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Gold Jumps at Open Short Covering?
Gold continues to see a lot of noisy behavior, as we have seen the market gap to the upside. At this point in time, the markets might be worried about headline risks over the weekend. The gold market has gapped higher to kick off the trading session here on Friday, which makes a certain amount of sense because there would have been concerns about the overall headline risk that we have over the weekend. That being said, since we opened, we've heard that the Iranians are suggesting that the agreement with the Americans has never been closer. So that, of course, puts a little bit more risk appetite into the market. ... (full story)