The Strange Intraday Behaviour of Gold

Dimitri Speck

Chapter Chapter 4 in The Gold Cartel, 2013, pp 16-18 from Palgrave Macmillan

Abstract: Abstract ‘Good morning, America’ or ‘One could set one’s watch by it’ – so market observers joked around the turn of the millennium whenever they watched the gold price and once again saw that it fell shortly after the open of the COMEX in New York. This happened with such unwavering regularity that many suspected it was no coincidence. Rather, they surmised that systematic interventions against gold were behind this anomaly, which typically took place at a specific time of the day, namely during the trading hours of the most important futures market. Rumours about such interventions had been making the rounds for a long time already, at least since 1995.6 Since 1999 the Gold Anti-Trust Committee (GATA, www.gata.org), a US civil rights organisation, helped to point these interventions out. It had made it its goal to publicise them and, if possible, contribute to putting an end to them. In Figure 4.1 you can see the intraday movement of the gold price over three consecutive trading days for clarification.

Keywords: Stock Market; Price Movement; Closing Price; Trading Period; Price Decline (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-28643-7_4

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137286437

DOI: 10.1057/9781137286437_4

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().