Sleepy Gold Market Is Woken Up by Flurry of Trades
- Volume spike fails to hold bullion lower as prices head higher
- Report shows company payrolls rising most in 9 months in U.S.
This article is for subscribers only.
On a day when blizzard warnings blanketed the U.S. east coast, gold trading in New York got off to a stormy start.
In the 15 minutes ended 8:30, gold-futures volume spiked on the Comex in New York, with contracts equal to more than 2.8 million ounces of the metal changing hands. That’s almost eight-fold the 100-day average volume for that time of day, according to data compiled by Bloomberg.