Gold Surges Above $1150 On $3.5 Billion Bid, Bitcoin Dips
Posted by Tyler Durden on December 29, 2016 3:35 pm
Tags: Alternative currencies, Atomic physics, BITCOIN, Bond, Bullion, Business, Cryptocurrencies, CURRENCY, Economy, Finance, Futures contract, GOLD, Gold coin, Investment, Matter, MONEY, Precious Metals, Rebalancing investments, Yuan
Categories: Alternative currencies Atomic physics Bitcoin Bond Bullion Business Cryptocurrencies Currency Economy Finance Futures contract gold Gold coin Investment Matter money Precious Metals Rebalancing investments Yuan
Gold is up 5 days in a row and is surging above $1150 today as someone decided to buy $3.5 billion notional of the precious metal into the European close.
It appears the rotational year-end flows are rebalancing back into bullion as well as bonds… Over 30,000 contracts ripped through futures in the last few minutes before Europe’s close – around $3.5 billion notional.
This is gold’s best day since 11/2.
Silver is bid too…
Bitcoin is leaking after breaking $1000 equivalent in Yuan…
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