Fat Algo Finger Of The Day? Spot Gold Edition

It is unclear exactly what happened but based on Bloomberg's tick data, spot gold prices spiked over $30 after the close of the US day session. After a pillaging of a day, someone's agorithm decided that $1336 and then $1307 were the appropriate prices... triggering...

  • *SPOT GOLD JUMPS 1.9% TO $1,312.48/OZ, SNAPPING 3-DAY LOSS

Only soon after to correct back to the lows near where we closed the day.

 

 

 

 

 

Chart: Bloomberg