38,800 Gold Contracts Dumped In Eight Minutes And The Silver Price Smashed

$4,966,400,000 worth of paper gold hit the markets between 11:08 a.m. and 11:16 a.m. BOHICA seems like the right acronym…

First, here’s just how steep the drop was:

We’ve got bear flags forming:

Which means brace for another leg down if the pattern holds.

And here’s a look at the volume:

Of course, we’ve got all sorts of fundamental nightmares taking place right now between the Middle East, Venezuela defaulting, and terrorism rampant around the globe.

However, we saw this coming on Monday, because after all, most people who still have benefits at their jobs are already partying away the weekend (Don’t forget to thank a Veteran for that ability).

However, since the Saudi Purge, gold is still the winner:

Stack accordingly…

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About the Author

U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.

Paul’s free book Gold & Silver 2.0: Tales from the Crypto can be found in the usual places like Amazon, Apple iBooks & Google Play, or online at PaulEberhart.com. Paul’s Twitter is @Paul_Eberhart.