Okay, this is just wayyy too suspicious . . . gold dropped over 15% in just a couple of minutes in what appears to be an attack on precious metals with coordinated sales at 6:30 PM EST on 12/30/2018. Silver also dropped, but not so substantially. Anyone else notice this, or know even more?
Update . . . I see inconsistencies between KITCO and other sites . . . maybe this is just a software glitch.
Looks like it may be a KITCO error, as everyone still has gold in the vicinity of Friday's close. Sorry if this turns out to be a false alarm.
It was shocking to see such an abrupt drop from 1280 to 1089. KITCO has fixed their momentary quote, but the plot of spot vs. time is still wrong.
Silver had the same problem but it went both ways. Platinum shot up, then back level. Palladium weird ... I'd check next time i'm in if those were ETF rebalances or something. One of the previous days drops/run up was heavily related to MF/Security Companies rebalancing. You can see who makes the heavy buys/sells in what volumes, etc. in one of my accounts to help make decisions based on what the big boys are doing. but I'm not sure I can see PM activity stuff.
KITCO's precious metals prices are delayed 20 minutes. If you want up to the minute, I use www.dillongage.com
I wonder if the panic induced by the glitch would cause a large drop if it wasn't corrected quickly. Self-fulfilling prophecy.