Nanex Research
Nanex ~ 05-Jul-2013 ~ Gold Oscillations
Gold futures prices oscillate over a $3 range for about 10 seconds just before 8:30 news (Employment
Situation and
Jobless Claims)
See also Jumping the Gun and
The NY-ARCA Dark Pool which document other, influencing behavior
during this period.
1. August 2013 Gold Futures showing trades (red squares) and quote spread (gray shading).
Note the wide price oscillation just before 8:30 - see Chart 2 for a close-up.
2. August 2013 Gold Futures showing trades (red squares) and quote spread (gray shading). Zooming in on the oscillations.
3. August 2013 Gold Futures showing trades (red squares) and quote spread (gray shading) over 1 second of time.
Note the activity at 8:29:59.829 - which is 171 milliseconds before the expected release
of market impacting
employment
data.
4. August 2013 Gold Futures showing trades (red squares) and quote spread (gray shading)
Zooming in on the sudden price spikes about 1 minute before anticipated news event.
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