NEW YORK (TheStreet) —
It was a fairly quiet trading day from a price perspective in the Far East on their Friday. The price developed a negative bias right out of the gate, with the low coming at 1 p.m. in Hong Kong trading. The tiny rally after that made it back above the Thursday close in New York by a few dollars around 8:30 a.m. in London—and then it was down hill until 12:30 BST. The price chopped sideways into the London p.m. “fix”—and once that was out of the way, the HFT boyz spun their algorithms. The absolute low tick came minutes before 1 p.m. EDT—and the gold price crawled higher from there into the 5:15 p.m. close of electronic trading.
The high and low ticks were recorded by the CME Group as $1,195.40 and $1,174.10 in the June contract.
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