LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold & Silver Price Manipulation: The Greatest Trick Ever Pulled
By: Ronan Manly, Bullion Star

Gold & Gold Stocks Ripping. What's Next?
By: Jordan Roy-Byrne CMT, MFTA

Asian Metals Market Update: July-23-2019
By: Chintan Karnani, Insignia Consultants

Silver Seeks to Catch Up With Gold
By: Frank Holmes, US Funds

GoldSeek Radio: Bill Murphy and Bob Hoye
By: Chris Waltzek, GoldSeek Radio

Bull or Bear? The Market’s Message
By: Plunger

Gold Market Update - “so far so good”
By: Clive Maund

Investors Blinded by Greed, but Not for Much Longer
By: Rick Ackerman, Rick's Picks

Precious Metals Update Video: Gold Monthly Chart breaking out
By: Ira Epstein

FT's Martin Wolf: Who cares about the prices of useless metals and market rigging?
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
CME Halt Electronic Gold and Silver Futures Trading Due to “Technical Glitch”


 -- Published: Monday, 25 August 2014 | Print  | Disqus 

Today’s AM fix was USD 1,281.00, EUR 965.12 and GBP 772.29 ounce.
Friday’s AM fix was USD 1,280.50, EUR 965.03 and GBP 772. 32 per ounce.

Gold climbed $3.10 or 0.24% to $1,280.40 on Friday and silver rose $0.01 or 0.05% to $19.38 per ounce.


Gold in U.S. Dollars - 1 Year (Thomson Reuters)

Gold fell immediately on the open on the NY Globex, from $1,280.40/oz to $1,275/oz after trading was suspended due to “technical issues”. Gold ticked $2 higher in trade in London after gold in Singapore drifted marginally lower.

Gold’s support is at the June lows at $1,242/oz which gold may test this week due to still low holiday volumes.

Silver for immediate delivery fell 0.3% to $19.45 an ounce. Support for silver is at $18.70/oz. Spot platinum was flat at $1,424 an ounce. Palladium was also unchanged at $889 an ounce .

Overnight, CME Group Inc., the world’s largest futures market, halted all of its Globex electronic trading markets, including gold and silver, for four hours due to a “technical glitch.”

All other Globex electronic trading markets, including U.S. Treasury’s, oil, gold and U.S. stock indexes were affected with many markets having order routing problems.

A note on the CME Group website said "CME Globex markets will Pre-open at 20:30 Central Time and Open at 21:00 Central Time. All day and session orders, including GTDs with today's trade date will be cancelled. All GTCs that have been acknowledged will remain working."

Earlier, trading was suspended indefinitely. Any day orders that brokerages attempted to file and any orders that were filled, dated today were canceled.

The problem may be related to one of the exchange's trading engines but the exchange was still working to identify the extent of the damage according to a CME analyst.

This is not the first time that this has happened. The CME halted trading for some futures contracts for more than 90 minutes on April 8 due to “technical issues.”

The nature of the “technical issues” were not disclosed. Some analysts have warned that cyber war could see hackers, possibly state sponsored, attempt to disable and take down financial markets and exchanges as a form of financial warfare.

Security experts say China, Russia, the U.S. and other states are adept at and becoming more sophisticated at cyber espionage and warfare.

There is no speculation that this technical glitch was cyber terrorism or war. However, it underlines the risk posed to financial markets and hence the importance of owning physical bullion coins and bars.

Inform yourself of the 7 Key Gold Storage Must Haves here


| Digg This Article
 -- Published: Monday, 25 August 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.