Beginning 3 minutes before the release of the FOMC Statement, gold spot and futures prices began to rise notably. We noted this accordingly.
Someone leak FOMC to gold?
— zerohedge (@zerohedge) September 18, 2013
Bonds did not. Stocks did not. FX did not. Around 4300 contracts changed hands in the Dec Futures – massively more than average volume – before the statement came out and drove prices further up. In those 3 minutes Gold prices jumped $11… so the question is – lucky guess… or which big bullion bank got the nod?
And courtesy of Nanex: