Wikinvest Wire

The New York gold crossing

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.
IMAGE 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?

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2 comments:

Anonymous said...

The gold price always goes down in New York. Up in Asia, down in New York. That's why they call it the CRIMEX, not the COMEX.

Anonymous said...

I want gold to pull back to $1k so I can load up.

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