In Shanghai, close to 5 tonnes of gold was sold on the SGE in a
two-minute window just prior to 9:30am, in a market where the normal
volume traded is 25 tonnes in an entire day. The August 15 Comex gold
contract also saw 7,600 contracts traded in the same two-minute window,
though intraday trading data showed an unusual spike in Comex volume
just before Shanghai, suggesting Comex gold lead the selloff, but SGE
clearly exacerbated it.
Nobody should be too worried, as there will always be a place for GOLD in our hearts.
Remember that the Chinese Government will manipulate things one way or the other and will probably end up buying twice the amount of gold.
Also remember that everyone working in the financial sector is a crook and that you have to just wait out their bullshit for things to return to normal.
Long Live Gold and buy those dips!!