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Monday, 30 April 2012

Another Monday morning gold price spike

The gold price jumped up again this (Asian Monday) morning.  It is as though buy orders accumulated before the market opens force up demand.  Sell orders seem only to come in response to, and after, that buying demand.

This observation suggests the buyers are acting proactively with considered intent, whereas sellers are acting only reactively.  Maybe the sellers are US based, and reaction times are a little slower on Sunday night.  See the image below.
Courtesy of Kitco
The Monday morning gold price spike

This observation has been recorded twice on this blog.  See:  Gold price spike;  and Gold price spike again.

I acknowledge Kitco for their chart.

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