Gold & Silver Smashed Overnight As $2 Billion in Gold Dumped in 60 Seconds

Someone is getting rather desperate…

 

Gold prices were hammered down $18/oz shortly after London opened at 5am EST, as over $2 BILLION in paper gold (1.8 MILLION OZ) was dumped on the market by the cartel in under 60 seconds. 


Silver prices were dragged down by the gold smash, but have already recovered nearly all losses as of 9:45 am EST:

An excellent chart tweeted by Nanex  reveals the stunning details as the MASSIVE paper volume soaked up all liquidity in the global gold market in nanoseconds, resulting in a gold price reset nearly $20 lower, and below the critical $1250 level:

 

Gold prices have already recovered roughly half of their losses with a last of $1245 as NY trading gets underway. 

Meanwhile, over at the CFTC this morning…