Upside Volatility In Gold Cometh; With $100-$1,000 Daily Moves Being “Statistically Normal”
By Tekoa Da Silva
May 10, 2013
1“There can be many firefights in a battle…It’s normally a brief engagement between units meeting in passing, or as part of an operation to clear enemy combatants out of an area
The word firefight came to your editor’s mind when reflecting on the collapse witnessed in gold during the month of April. On Friday, April 12th we saw a tremendous 5.16% drop, only to be followed by a total smash of 8.99% at the open on Monday the 15th.
In total, these two trading days represented an over 14% ($200+) collapse in the price of gold—the most volatile and frightening period for many since the recent bull market in gold began.
Indeed, Monday the 15th represented the single biggest day of nominal trading losses in gold’s history