Nanex Research

Nanex ~ 23-Jan-2014 ~ The Millisecond Gold Reversal

On January 23, 2014, at 02:00:01 Eastern time, the price of gold futures suddenly dropped $1.8 on aggressive selling, then, less than 2 milliseconds later, rocketed $4.3 on aggressive buying. Looks like a test of a High Frequency Trading (HFT) algorithm to us.

1. February 2014 Gold (GC) Futures from 1:52 to 2:10 (18 seconds).

2. February 2014 Gold (GC) Futures showing 1 second of time.

3. February 2014 Gold (GC) Futures showing 1/10th of a second of time.

4. February 2014 Gold (GC) Futures showing 3/100ths of a second of time.

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