Daily Gold Price Cycle

Discussion in 'Commodity Futures' started by Sam Mcgee, Sep 22, 2009.

  1. I'm wondering if there isn't a regular cycle each day in the price of gold. That is, on average, does the price of gold fall during the day (eastern standard time) and rise each night. My thought is that America is selling off their gold reserves to suppress the price of gold and keep the American dollar from collapsing. At the same time, China is trying to divest itself of all their holdings in American dollars by buying gold. America would normally sell during their daytime and China would buy during their daytime.

    Of course the price of gold doesn't fall every day and rise each night but my guess is this is what happens on average. Has anyone perceived this to happen? Has anyone looked at the numbers and seen if there is a cycle like that or would they want to check if there is one? Perhaps a person could profit by going long on gold during the day and short at night?
  2. CB's never sell gold. It's a paper shift, they pay banks to lease it, and the banks sell it on the open market while making a return from the CB they leased it from.