Hi Sive, The market volatility (mostly on xag and xau) occurred at 6:15 pm Eastern Time USA. The announcement about Osama Bin Laden did not come until 11:25 pm Eastern Time and was not leaked until 10:35 Eastern Time. The first rumor that this might be the case came after 9:45 pm when the President called for a news conference to be held in two hours from then. Yet virtually every news source is attributing this huge volatility to the news announcement, which in fact came 5 hours after the volatility occurred. Bin Laden's demise is an illogical reason to give for volatility which occurred 5 hours before the news was first leaked so the commodities slide cannot logically be attributed to this.
It seems to me that perhaps the markets do what they want to do (or rather what the market makers want them to do) and then news sources and analysts "find reasons" to explain these moves.
Sive, do you have any comments on this?
It seems to me that perhaps the markets do what they want to do (or rather what the market makers want them to do) and then news sources and analysts "find reasons" to explain these moves.
Sive, do you have any comments on this?
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