Gold trades globally around the clock, but it doesn’t trade equally. The US session (anchored by COMEX futures in New York) accounts for the largest single share of daily gold trading volume. On a normal Friday, US participants set the tone from roughly 8 a.m. to 5 p.m. ET. On Juneteenth, that session doesn’t happen. COMEX follows a holiday schedule with sharply reduced volume. The price you see right now is determined mainly by London and Asian market participants continuing to reprice the aftermath of Wednesday’s Federal Reserve decision. The mechanism matters. In thin sessions, smaller orders move prices more than ... (full story)