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