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Gold Halted As Prices Spike Higher; Stocks Stumbling

Posted By admin On December 10, 2013 @ 11:32 am In Money Watch | Comments Disabled

Zero Hedge [1]
December 10, 2013

Gold (>$1260) and silver (>$20) are extending yesterday’s gains as US markets awake this morning. The crack higher at around 8:07ET caused the futures market to be halted after 3,000 Gold Futures contracts traded in one second at 08:07:45 on December 10, 2013 sending the price up $10 and tripping circuit breakers for 10 seconds. Silver is now +4% on the week and gold +2.5% as Treasuries are also bid. Stocks are stumbling overnight, driven by the “fundamentals” of a drop in EURJPY after it tagged 142 overnight and fell back.

PMs spiking again at the US open…

Gold Halted As Prices Spike Higher; Stocks Stumbling 20131210 OP1 0 0 [2]

And halted at 8:07 – as Nanex shows, [3]

About 3,000 Gold Futures contracts traded in one second at 08:07:45 on December 10, 2013 sending the price up $10 and tripping circuit breakers which halted trading for 10 seconds. This sort of thing is happening far too often: see also the drops on April 12, 2013 [4],  September 12, 2013 [5]October 11, 2013 [6]November 20, 2013 [7] and November 25, 2013 [8] which also resulted in trading halts.

1. February 2014 Gold (GC) Futures Trades.

Gold Halted As Prices Spike Higher; Stocks Stumbling 20131210.fGC.G14.07.59.21.000 1000ms.0

2. February 2014 Gold (GC) Futures Trades – Zoom.

Gold Halted As Prices Spike Higher; Stocks Stumbling 20131210.fGC.G14.08.07.40.925 25ms.0

3. February 2014 Gold (GC) Futures Depth of Book (how to read [9]).

Gold Halted As Prices Spike Higher; Stocks Stumbling 20131210.GC.G14

and stocks tumbling to play catch up to JPY carry…

Gold Halted As Prices Spike Higher; Stocks Stumbling 20131210 OP2 0 [10]

and Treasuries are bid…

Gold Halted As Prices Spike Higher; Stocks Stumbling 20131210 OP3 0 [11]


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URL to article: http://www.prisonplanet.com/gold-halted-as-prices-spike-higher-stocks-stumbling.html

URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-12-10/gold-silver-soaring-eurjpy-drags-stocks-lower

[2] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/12/20131210_OP1_0.jpg

[3] Nanex shows,: http://www.nanex.net/aqck2/4502.html

[4] April 12, 2013: http://www.nanex.net/aqck2/4159.html

[5] September 12, 2013: http://www.nanex.net/aqck2/4420.html

[6] October 11, 2013: http://www.nanex.net/aqck2/4455.html

[7] November 20, 2013: http://www.nanex.net/aqck2/4491.html

[8] November 25, 2013: http://www.nanex.net/aqck2/4494.html

[9] how to read: http://www.nanex.net/aqck2/4394.html

[10] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/12/20131210_OP2.jpg

[11] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/12/20131210_OP3.jpg

[12] Gold Trading Was Temporarily Halted On The CME This Morning: http://www.prisonplanet.com/gold-trading-was-temporarily-halted-on-the-cme-this-morning.html

[13] Gold And Silver Spike, Recover All Shutdown Losses As Stocks Tumble: http://www.prisonplanet.com/gold-and-silver-spike-recover-all-shutdown-losses-as-stocks-tumble.html

[14] World Gold Council Sees Ever Greater Demand For Gold, As “Consumers Become Accustomed To Higher Prices”: http://www.prisonplanet.com/world-gold-council-sees-ever-greater-demand-for-gold-as-consumers-become-accustomed-to-higher-prices.html

[15] Gold Prices Rise Above $1,010: http://www.prisonplanet.com/gold-prices-rise-above-1010.html

[16] Marc Faber: The US Can ‘Artificially Depress’ Prices And Confiscate Your Gold: http://www.prisonplanet.com/marc-faber-the-us-can-artificially-depress-prices-and-confiscate-your-gold.html

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