From Zero Hedge:
Early spot gold action indicates something is afoot in the gold market. Hitting an absolute record of $1,164 mere minutes ago, the momentum chasing algo funds are now in the picture, set to do to gold what they have been doing to the S&P futures and the SPY day after day for months now: if little volume will cause a move, look for the momentum chasers to crawl out of the woodwork.
Yet the key factor determining today's gold price: Comex gold option expiration later today. Over the past several weeks, speculators have accumulated...
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