Today is options expiration day for the September gold contract

Link to options expiration calendar

MK note:  For those of you new to the gold scene, the gold price has been known in the past to take a dump on options expiration dates – in fact in some circles it is an anticipated event. Those who underwrite gold “calls” benefit from every $5 decline in the metals’ price. No one knows for certain if these recurring expiry takedowns are a coincidence, chance events or engineered anomalies, though a good many over the years have speculated that the latter is the case.  In the past, gold has often, but not always, recovered quickly from the onslaught. Given what else is on the table these days, one wonders how many of the big players will take advantage of this dump to stock up on physical.

By the way, today is also options expiration day for silver.