...Reuters reported that “In the early hours of the New York - TopicsExpress



          

...Reuters reported that “In the early hours of the New York morning on Thursday, when scarcely a few hundred lots of gold futures are usually traded, a wave of buy orders worth over $2.3 billion surged into the market. Prices soared 3% [$39 an ounce] in just ten minutes, puzzling traders and investors who have been rattled by a series of similarly abrupt, and largely unexplained trade swings over the past two weeks. . . . . . The half-dozen mammoth orders whipsawed prices and disrupted trade in Comex futures, a market already edgy about gold’s fading safe-haven appeal. . . . . . . Traders have offered a host of possible explanations including that it could have been driven by selling by a distressed fund, the unusual low liquidity, deliberate gaming of the market, whether by a rogue trader or a computer-driven algorithm that seeks to overwhelm the system.”
Posted on: Sun, 20 Oct 2013 12:09:51 +0000

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