It's close to the end of the month and coincides with expiration date of gold futures options. Someone with the ability to move the market want price to go down in a hurry, and then gold price had a flash crash within a fraction of a second.
I've written about these violent price moves for gold price before. It's an opportunity to accumulate gold positions given by dealers once a month.
Gold and Silver Options Expiry
‘Gold Finger’ Triggers "'Flash Crash"
This in itself is suspicious. What sort of legitimate seller(s) would intentionally crash the price? Normal practice is to sell it as quietly as possible. This is simply some market manipulator(s) crash price in a flash with the purposes of: (1) running stop loss orders to profit from those naive traders who display their orders out in the open; (2) scare potential gold buyers away. As you might know, gold competes with dollar as international and personal reserve currency and all the other reasons that everyone should own some gold for the long-term collapse of the dollar. Try go to any American banks to buy gold, see what happens.
As expected, the spot gold market maker carried out its routine and delivered tons of "Re-quotes & failed trades" upon customers, it didn't forget to pick customers' pockets either with "Asymmetrical price slippage" if a trade indeed went through.
What exactly is "requote"? I give you an example. Suppose you saw an item offered for sale for $1 a piece. You placed an order to buy. Then the seller suddenly said he could not sell you at $1 anymore. He moved the offer price to $1.05 a piece. When you placed another order to buy at the new price, the seller changed mind and moved price higher again.
This is very similar to what spot gold market maker and other Wall Street market makers are doing. They do it with a high-frequency trading (HFT) software and they do it in almost all types of markets these days. Yet, American financial regulators such as SEC and CFTC look the other way and let crooks on Wall Street stealing money from investors day after day. It is a totally rigged system, period.
Now, get back to today's requotes. I am showing only 3 screen shots. Believe me, there are many more that I cannot post them all.
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