2 Gold Spikes

WOW

Gold spiked twice today, once @ 9:15 to $821, than again to $821 around 12:30.

I was short ahead of the spike and got my face-ripped off BOTH times

Anyone have any insite into this massive move?

PW

 

It's a bull market ya know.....

 

It's First notice day today 11/28/2008

 

Oil is leading everything. I think something out of OPEC likely.

 

None of these answers make sense at all.

 

there were more buyers than sellers

 

Again, you dont get a $6-$8 gap up because of that

 

Oil just moved $3-$4 in a very short space of time the same time gold moved. $6-8 on gold is nothing - that is noise.

There are plenty of auto trading systems out there amongst funds that do short term intermarket spreading. So a $3 move in crude resulting in gold/silver/natty/etc all moving in tandem somewhat is totally plausible.

 

Oil moved more like $1.14; not $3-$4.

Plus, the gold spike was right before the oil move.

 

january crude spiked from 51.50 to actually almost 56.00 from trough to peak in the hour commencing after market close. The instantaneous spike was around $3 occurring on the half hour mark.