Wednesday, March 10, 2010
It's not clear what's moving the gold price today, in fact, it's been a funny week in that the financial media is reporting better prospects for the Greek debt crisis have led to a stronger euro, a weaker dollar, and falling gold prices. That's not the way its supposed to work...
But, prices sure are moving - first up and now down - and it comes at a time of the day when many big moves have occurred, that is, shortly after markets open in New York.
As noted here a week or two ago, the moves in New York trading are not always in the downward direction, but the three-day price charts from Kitco sure do show a lot of crossings right there in the middle.
A delayed reaction to the news from China the other day perhaps?