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Yamana Gold, Inc. Message Board

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  • fjackny99 fjackny99 Sep 20, 2008 3:03 PM Flag

    Article on commoditites. Barron's

    I was surprised nobody mentioned the fact that CNBC had gold down(on the screen) all day.
    They carried over the gold price from the high on thursday and had it down $40 at the open.

    CNBC did not show gold up at all yesterday. At the high of the day for gold, CNBC had gold down $16.

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    • Do you guys know so little about gold not to know that open outcry trading is conducted from 8:20 AM until 1:30 PM on the COMEX? It is based on the COMEX close that CNBC is quoting its prices.

      • 1 Reply to hoselrocket2001
      • Hi from bali,
        If CNBS is using comex limited trading and the hours of trade are what you quoted than why is it that I can watch gold prices change 24 hours a day on CNBS? I use the forex traded XAU/USD cross and normally it corresponds directly to the CNBS quotes. To the point of this string, I did notice, as I sometimes do, that CNBS was using bogus quotes for gold on friday. I show that gold closed friday (xau does not trade again til sunday night usa time or monday morning here in asia)at 872.83 up 18.05 for the day or about +2.11%. I am also confused by these bogus articles claiming a fall off in gold on friday. I have noted the discrepency on various occasions with CNBS gold quote system and just so happens that it corresponds to days of particular volatility. Not wanting to be a conspiracy theorist I will just suggest to rely on CNBS for gold quotes or COMEX for that matter if they are using this very US slanted system is very very misleading. XAU is quoted and traded globally and gold is a global currency not a us currency. I will continue to monitor XAU delivered live from my forex trading broker Saxo Bank, Denmark. JMHO, balibob

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