Gold Price Went Ballistic To $1,450 In Less Than 20 Minutes

| November 26, 2014 | Category: Price

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Update: We received this message through Goldchartsrus: “There was a bit of excitement in the gold prices last night – during COMEX close, Windsor Brokers carried quoting gold in steady increments of 15c. By 23:00 it was up over 1400. On COMEX reopen it corrected itself.” Whatever it means, it confirms that it was more of a technical glitch.

A glitch, a game or both? It is unclear what exactly happened, but the price of gold surged from $1,200 to $1,450 in just ten minutes, at least at some charts (not all). It was brought to our attention by Nick from Goldchartsrus.

The USAGold.com website shows the blip and a return to reality after some 20 minutes. As readers can see, the “glitch” was not erased afterwards.

gold_price_surge_25_November_2014

 

The same surge was visible on bulliondesk.com, as the first chart shows. Some 20 minutes later, the price was “normalized” again at the levels before the “glitch” as evidenced by the second chart. Here again, the blip was not erased or corrected from the chart afterwards.

gold_price_surge_II_25_November_2014 gold_price_surge_III_25_November_2014

 

The same picture was visible on the Goldchartsrus.com intraday price chart. But there again, the normalization took place after some 20 minutes.

Probably this is just a glitch, but it would be interesting to see if some shorts have really been stopped out. Probably we will never find out!

Read also Nick Laird’s post: Gold Algos Run Wild

 

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