Sunday, November 22nd, 2009

Posts Tagged ‘ Camex ’

And Then There’s This…Tuesday, January 06th, 2009

Jan 6th, 2009 | By Ed Steer | Category: Financial News

Just like Friday morning, gold blasted out of the starting gate as soon as Globex trading began in the Far East on Monday morning. And just like Friday morning, this price spike ran into a wall of selling that went on for about four hours. Then there was a respite until 3:00 a.m. New York time when another wave of selling commenced that lasted right through London…and until the Comex open. Then the dealers (mostly JPMorgan, I would think) pulled their bids for the third and last time…and the price of gold cratered another $10…for the third and last time. Silver really got it in the neck on the Comex open. There was nothing free market about this…this was the…