>And if you look a some other charting services, it is not a gap at all, but rather a rapid but steady series of increments upward. <http://quotes.ino.com/chart/?s=FOREX_XAUUSDO&v=i>http://quotes.ino.com/chart/?s=FOREX_XAUUSDO&v=i
Dave, not correct my friend! The market definitely, definitely opened up a gap this morning (a huge one!), indeed there is still a gap although its slowly closing, and will close within the next few days. You can see it clearly here -- http://itsallinthecharts.com/sub/gaptoday.jpg Note that (i) the world's gold market is set and priced by the futures market, the spot market means little. (ii) the future's market runs from 8.20 am until 1.30 pm in NYC, NYC time (iii) as you say, in fact, there's no such thing as a "gap" in the spot prices. it is meanginless, the spot price is traded continuously (24 hrs a day), so it can't "gap". Saying the spot priced "gapped" would be like saying "I forgot to use the clutch on my automatic transmission". To "gap" aka "gap open" means that in a market which trades from 9am until 5pm (say), then opening price at 9am is significantly different from the closing price the previous day at 5pm. ie the term refers to the opening price in a market that does, in fact, open! markets that trade 24 hrs a day cant "gap open", indeed they cant "open" ! (iv) so when someone says the price has gapped up or down, they are inherently referring to the futures price (I suppose in a general abstract way you could talk about a 24 hr market "gapping", which would just be an analogy for "moved quickly", but it has nothing to do with "gapping open" as 24 hr markets, like say emini markets, never open or close) BTW > Be prepared for loss selling by the bullion banks and their cronies in a attempt to force the price back below $305. You know, ANY market traded by humans, will force back a gap. It is universal, a universal of market psychology. In practice every single traded commodity will close a gap like that (9 times out of ten). It's not really the "bullion banks" that are relevant in such a pressue, it's the pros and pit traders that will simply pull the price back to close the gap down to 306.10 on the gc2m IMHO the sort of thing you a referring to - "GATA - like" forces driving the price down - applies in much broader aspects of the gold market. The gap open this morning, the pros in the pits will easily close, to (a) force out all the amateurs who made money on the futures contract and (b) cancel any loss any of them made due to the gap. That would happen in any futures pit! (indeed vast numbers of commodities traders are nothing other than "gap traders", the sole trading strategy they employ is based on the notion that certain gaps usually close.) JP! --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
