It seems the two words "fiduciary duty" are strangely missing from the dictionary of the new normal's asset management community. This morning, shortly before 8:27am ET, someone decide that it was the perfect time to dump thousands of Gold futures contracts worth over half a billion dollars notional. This smashed Gold futures down over $12 instantaneously, breaking below the 200DMA and triggered the futures exchange to halt trading in the precious metal for 10-seconds. Palladium also got clobbered and was also halted. This is gold's worst since Bernanke 'tapered' in December.
As Nanex exposes in great detail…
1. June 2014 Gold (GC) Futures on April 15, 2014
Note the 10 second halt.
2. Zooming out.
3. Zooming way out.
4. June 2014 Palladium (PA) Futures on April 15, 2014
Palladium futures also halted for 10 seconds.
via Zero Hedge http://ift.tt/1kWXbNs Tyler Durden