NEW YORK (TheStreet) —
The gold price chopped quietly lower in Far East trading on their Tuesday—and the HFT boyz and their algorithms/spoofing showed up around 2:15 p.m. Hong Kong time. Once they were done, the price drifted quietly lower until the London morning gold fix was done at 10:30 a.m. BST. It rallied a hair into the COMEX open, but JPMorgan et al were laying in wait once again—and within thirty-five minutes had gold down another ten bucks to its low tick of the day. The gold price didn’t do much after that.
The high and low ticks were reported by the CME Group as $1,108.20 and $1,184.80 in the June contract.
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