by Mark O’Byrne, Gold Core:
Minutes of the Fed’s October policy meeting suggested that the Fed may start scaling back the U.S. central bank’s $85 billion in monthly asset purchases at one of the next few meetings and this may have exacerbated the sell off. ‘Taper’ speculation remains rife despite the increasing likelihood of no taper due to the very fragile state of the U.S. economy.
Gold trading on Comex was interrupted twice, according to Nanex, which provides exchange data and summarizes high frequency trading activity. Thus, trading of gold futures were suspended twice yesterday and four times in the last three months as trading was also suspended on September 12, October 11, and now, November 20.
Nanex reported that about 1,500 gold futures contracts traded in one second at 6:26:40 a.m. Eastern time on Wednesday, triggering a $10 drop in prices and a 20 second trading halt.
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