| In a blatant and massive market intervention, the price of gold was smashed on November 28. Right after the Commodity Exchange Market (Comex) opened on that morning, 7,008 paper gold contracts representing 20 metric tons of gold were dumped in the New York Comex futures market at 8:50 a.m. EST. At 12:35 p.m. EST, 10,324 contracts representing 30 metric tons of gold were dropped on the Comex futures market.
No relevant news or events occurred that would have triggered this sudden sell-off in gold. Furthermore, none of the other markets experienced any unusual movement (stocks, bonds, currencies). The intervention in the gold market occurred on the Friday after the U.S. had observed its Thanksgiving Day holiday. It is one of the lowest volume trading days of the year on the Comex...............................................Full Article: Source
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