Although this is far from the close of US trading in gold, its price has breached the $529 level. This now sets up a test of the gold price at 3% beyond that. This market clearly has an unseen hand behind it called over-the-counter interest -sensitive derivatives and in time will have OTC derivatives of all varieties on board as it roars through $1,650.
Market reaction and intervention can only be on a day-to-day basis. There seems to be something structurally wrong. Is it REFCO?