Commenting on todays weakness in gold, TD Securities Global Precious Metals
team wrote the following in a note to clients: Gold initially saw some investor
buying off $1875 level before meeting some profit taking around $1885 (prev
series of tops since we broke back below $1900), heading lower into the AM fix
and subsequently dropping back to $1865 as the USD gained ground across the
board, EUR selling at the forefront and EM under some pressure. Then another
flash-crash brought gold down to $1840 in seconds as futures based selling hit
the screens some 6000 lots went through in a hurry dragging the rest of the
complex with it, silver is down
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