Gold Surges Above $1150 On $3.5 Billion Bid, Bitcoin Dips

Gold is up 5 days in a row and is surging above $1150 today as someone decided to buy $3.5 billion notional of the precious metal into the European close.

It appears the rotational year-end flows are rebalancing back into bullion as well as bonds… Over 30,000 contracts ripped through futures in the last few minutes before Europe’s close – around $3.5 billion notional. 

This is gold’s best day since 11/2.

Silver is bid too…

Bitcoin is leaking after breaking $1000 equivalent in Yuan…

This post originally appeared on Zero Hedge

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