Correct Wolfgang, not “only” an idiot would do this. These raids are performed by those trying to keep “cover” of the fiat system. It is actually pretty smart (not in the long run) to attack the number one arch enemy of the dollar…and who might have motive?
Anybody with even the slightest inkling of price understands the relationship of the Dollar to Gold.
When the Dollar drops hard, gold goes higher….hard!
It’s simple….gold is priced in Dollars and hence a cheaper Dollar means you must pay more Dollars per ounce.
We all know this.
This morning the Dollar dropped hard…well below 100 on the DXY.
Yet, someone decided to dump 22,000 contracts in the face of a collapsing Dollar. That’s $3, billion notional value!
Only and idiot would not go/stay long gold in the face of a dropping Dollar.
And if this idiot really wanted to get out of gold, he would have sold slowly to get the best price for gold.
Since traders, especially commodity traders, are not idiots…it could only be the Fed.
CIGA Wolfgang Rech
Despite Dollar Dump, Gold Just Got Slammed By $3 Billion Notional Sale
April 18, 2017
While the dollar index tumbles to its lowest level since days after the election…
Someone decided this morning was an opportune time to dump over 22,000 gold futures contracts (almost $3 billion notional) sparking a quick plunge in the precious metal…