Gold traders were just hit by a lightning bolt of selling as prices dropped to $1213 from a session high of $1248 in moments. We’ve recovered back to $1235 now. Could be a fat finger.
Ransquawk notes 8000 contracts traded in a few seconds and there were reports that circuit breakers were tripped.
Gold intraday chart
My take: We might never get to the bottom of what caused it but the drop will shake the confidence of the gold bulls and give them a reason to sell.
