by Ed Steer, Casey Research:
The gold price, which was up about six dollars by the London open on their Thursday morning, suddenly jumped higher shortly around 8:30 a.m. GMT. That rally wasn’t allowed to get far—and after that, the price chopped lower until 1:00 p.m. in New York—and from there it edged higher into the 5:15 p.m. EST close of electronic trading.
The low and high ticks were reported by the CME Group as $1,218.00 and $1,232.80 in the April contract.
Gold closed in New York yesterday at $1,221.70 spot, up $3.80 from Wednesday’s close. Net volume was very much on the lighter side once again at 96,000 contracts.
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