by Ed Steer
Ed Steer’s Gold & Silver Daily
Yesterday in Gold and Silver
All was quiet in Far East trading right up until 3:00 p.m. in Hong Kong. At that point, the gold price developed a slight negative bias…and shortly after the London morning gold fix was in, the high-frequency traders went to work.
The rest, as they say, is history.
Then right at 2:00 p.m. in New York…probably on the Fed news…the bid disappeared and the gold price plunged another $20 in electronic trading.