Thursday, 10 April 2008

"RED LETTER DAY!" Record Fixes! 2008-01-03

Thursday 3rd January 2008: 9.00 pm : "RED LETTER DAY"

Why? Gold has recorded two London Fixes today that both beat the record $850 from 21st January 1980! The AM Fix was a whopping $865.35 and the PM Fix was $858.85. The AM Fix constitutes a record smashed by over $15!

So many articles on the Internet got themselves confused over 'records broken' yesterday on the 2nd January before the close of the Futures market, but the intraday high of 21/1/1980 of around $895 still stands. Anyway, the 1980 highest Gold Futures closing price was broken already in 2007, so who cares whether it was again yesterday - it might be broken again and again going forward as many new highs can now come. The only goal to beat that I can see is now the all time intraday high in the futures market. (I can't find any information on the intraday spot high in 1980 so I am leaving that one for some sleuth to deduce.)

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