A single seller drove gold down as Bernanke testified

Friends have sent the full text of the CIBC gold market note from yesterday that was quoted in part at GoldAlert here:

http://www.goldalert.com/2012/02/large-seller-in-the-market-as-comex-gol...

The full text reads:

"Looks like a large seller of gold in the market, as a 10,000 contract traded, down-ticked the price by $40 per ounce, and represents 1 million ounces of gold sold. Roughly 200,000 contracts trade per day, but unusual to see such a large single trade. Not likely due to contract expiry either. Bernanke isn't really helping either, but we haven't seen any either-size transactions post the one big trade, so hopefully will see the price decline settle down. Shortly after the 10,000 order, which was closer to 11,000 contracts, looks like one size seller out there. Sold 1.8 million ounces of gold on the day. Smells like a liquidity squeeze."

That kind of selling certainly gives the impression of someone with immensely deep pockets trying very hard to drive the price down while a congressional committee was taking testimony from the world's leading central banker, Federal Reserve Chairman Ben Bernanke, who, perhaps not so coincidentally, also has immensely deep pockets.