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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Why did the gold price plunge $10 in 10 seconds?

Posted on 21 November 2013

Sudden drop in the precious metal on the day it emerges the UK regulator is investigating alleged rigging of the price raises questions about the market. Traders in London were left scratching their heads on Wednesday morning when a rapid-fire 10-second spell of selling sent gold prices quoted on a Bloomberg monitor down suddenly by about $10 (£6) to trade near $1,260 an ounce.
IG Markets commented that the fall came suddenly following a 2,000-contracts sell order hitting the market, but the incident shows how markets don’t always comply to the logic of traders reacting to big news events that are publicly disclosed and that we all know about…………………………………Full Article: Source


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