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Financial Times calls gold's flash crash 'mysterious'

Section: Daily Dispatches

But the newspaper will be damned before it puts to central banks any questions about their gold trading.

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Gold Remains Under Pressure After Mysterious Drop

By Adam Samson
Financial Times, Lodon
Monday, June 26, 2017

Gold, one of this year's best-performing commodities, is still pinned around the day's lows after a mysterious tumble earlier today.

Spot gold was recently down $12.69, or 1 percent, at $1,243.9 a troy ounce. That represented a modest recovery from the day’s lows of $1,236.43, which was the weakest level on an intraday basis since May, according to Bloomberg data.

Traders struggled to pin the fall on a particular event, with some analysts suggesting that an accidental "fat finger" trade may have triggered the initial fall, although moves like that typically immediately unwind.

"One question market participants are asking is: What happened to gold?," Citigroup strategists pondered. ...

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