NEW YORK (TheStreet) —
The gold price didn’t do much, or wasn’t allowed to do much—take your pick—in morning trading in the Far East on Monday. The low tick over there came at 1 p.m. Hong Kong time. From that point it rallied to its high tick at the 8:00 a.m. BST London open—and JPMorgan et al were waiting. The low tick came about fifteen minutes before the London close. The rally off the low got reversed at exactly 1:00 p.m. EDT and, starting shortly after the 1:30 p.m. COMEX close, the gold price rallied quietly into the 5:15 p.m. close of electronic trading.
The high and lows were recorded by the CME Group as $1,209.00 and $1,190.80 in the June contract.
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