It Took Only 10 Minutes to Send Gold and Silver Prices Soaring
- Silver contracts for 36 million ounces trade in 10 minutes
- Gold contracts for 1.57 million ounces changed hands
This article is for subscribers only.
Italy’s budget turmoil is giving gold and silver an added haven-demand boost at a time when fund managers are rebalancing their asset mix.
Volume for the precious metals spiked on the second trading day of October, jolting prices that had been trading little changed just minutes earlier. The activity "suggests that an investor is making a significant allocation in gold at the beginning of the month," Tai Wong, the head of base and precious metals trading at BMO Capital Markets, said.