Sep 11, 2013
Not surprisingly, gold got sold down right from the time that trading began in the Far East at 8:00 a.m. in Hong Kong. An interim low was in just minutes before the London open…and from there it didn’t do much until the 8:20 EDT Comex open in New York.
The rally that began at that time, ran into a seller of last resort at 9:00 a.m….and then it was all down hill until 1:00 p.m. EDT. The rally from that point lasted until 2:45 p.m…and then it got sold down for about thirty minutes before trading sideways into the 5:15 p.m. electronic close.
The low tick at 1:00 p.m. EDT was recorded by Kitco at $1,275.40 spot…and the high…around $1,301 at the 8:00 a.m. open in Hong Kong.