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Gold Halted As Prices Spike Higher; Stocks Stumbling

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…

[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.

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

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

and stocks tumbling to play catch up to JPY carry…

[10]

and Treasuries are bid…

[11]