Discussion in 'Commodity Futures' started by DisciplinedHedg, Mar 10, 2010.
Gold just took a big dive. I have 1127 to 1105 in less than an hour.
useless stuff ,no need any reason ,just dump it
buy order 1102,74
How obvious, Mrdouble hit the Sell button too many times in a row.
I thought the manipulators have been suppressing the price of gold during Comex trading hours for years:
"Gold market observers in Europe joke about it by saying: 'Good Morning America!' or 'You can set your watch by it'. What happens when New York wakes up? Generally, the price of gold falls. This intraday price pattern is the result of a price manipulation that takes place in America. That is why the price so often falls when New York trading starts.
Many market participants are now aware of this price pattern. They can see it directly from the quotes or from intraday-charts. Kitco (www.kitco.com) offers such intraday-charts, including historical ones. But these are only isolated examples."
not as far as it fell today...thoughts?
Gold has some very bubble like properties, so it doesn't necessarily have to have a reason to fall. Demand is down (central banks don't want to hold gold during an economic recovery when it typically drops in price, jewelry demand is low), supply is up (mining is going nuts at these prices). Prices currently are set 100% by speculation. The nature of speculators is that they eventually exit their positions.
I've been short gold for a while now, and this price move doesn't change my mind
Why does that chart not show the same average value for hour 0 and hour 24 since they're the "same" time?
In any case, if you're right and 10:00 EST is good for an average of a two tick drop, that's not very exciting. It's the kind of market inefficiency, that if true, is probably untradable.
Even I am short gold futures so I don't lose so much on all my other positions. What a manipulated piece of crap.
I be a buyer in the gold at 1020
If AU gets to $1020.00USD the probabilty of a sub 1k test is high.
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