A coordinated sale?

Discussion in 'Bullion Investing' started by ToughCOINS, Dec 30, 2018.

  1. ToughCOINS

    ToughCOINS Dealer Member Moderator

    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?
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  3. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Update . . . I see inconsistencies between KITCO and other sites . . . maybe this is just a software glitch.
  4. ToughCOINS

    ToughCOINS Dealer Member Moderator

    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.
  5. CoinBlazer

    CoinBlazer Professional Teenager

    I just looked it up. I see what you mean
  6. ToughCOINS

    ToughCOINS Dealer Member Moderator

    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.
  7. rooman9

    rooman9 Lovin Shiny Things

    Buy buy buy!!!!
  8. Clawcoins

    Clawcoins Well-Known Member


    Silver had the same problem but it went both ways.

    Platinum shot up, then back level.

    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.
  9. TheFinn

    TheFinn Well-Known Member

    KITCO's precious metals prices are delayed 20 minutes. If you want up to the minute, I use www.dillongage.com
  10. Sullysullinburg

    Sullysullinburg Well-Known Member

    I wonder if the panic induced by the glitch would cause a large drop if it wasn't corrected quickly. Self-fulfilling prophecy.
  11. Collecting Nut

    Collecting Nut Borderline Hoarder

    It's a Chinese cyber attack! lol
  12. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    Y2K.. it just took a while
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