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U.K. Currency Shock Sees Sterling Gold Surges 5% in One Minute “Flash Crash”

Sunday, October 9, 2016 0:14

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news.goldseek.com / By Ed Steer / Sunday, 9 October 2016

08 October 2016 — Saturday

YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM

The gold price traded a few dollars either side of unchanged until the COMEX open in New York yesterday morning. There was a bit of a pop on the job numbers, but that was over and done with by 9:01 a.m. EDT. It headed lower from there — and ‘da boyz’ set a new low tick for this move down around 11:30 a.m. in New York. Then, for the most part, it rallied quietly from there into the 5:00 p.m. close of the thinly-traded afters hours market.

The high and low ticks were recorded as $1,267.60 and $1,243.20 in the December contract.

Gold finished the Friday session in New York at $1,257.60 spot, up $2.40 from Thursday’s close. Net volume was extremely heavy at 247,000 contracts.

Source: http://silveristhenew.com/2016/10/08/u-k-currency-shock-sees-sterling-gold-surges-5-in-one-minute-flash-crash/

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