As we approach the European close, the dolar index just spiked and precious metals (and crude) were pummeled. Gold futures tumbled on massive volume as over $4 billion notional was purged instantaneously...

Over 30,000 contracts ripped through gold futures - over $4.2 billion notional - in the space of a minute. That's around 10% of a normal days' volume.

NOTE - $1281 is the 100-day moving average that has been an equiliborum level for the last few weeks...

Silver was hit too as the dollar spiked...

 

Notably Gold remains the only winner post-Saudi chaos... for now...

 

Finally, we thought this was interesting...