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10-Second Trading Pause Triggered On Sudden Gold Plunge

2024-06-21OANDAOANDA
Gold futures plunged more than $30 at 10:14 a.m. EST on Monday morning, before regaining nearly all of that drop within the same minute. The swift move triggered a 10-second pause in trading, and many market participants said a single trading error was probably to blame. “What has a tendency to happen if someone does […]

Gold futures plunged more than $30 at 10:14 a.m. EST on Monday morning, before regaining nearly all of that drop within the same minute.

The swift move triggered a 10-second pause in trading, and many market participants said a single trading error was probably to blame.

“What has a tendency to happen if someone does a fat finger trade is that it triggers stops that people leave in,” said Matthew Hoverman, senior trader at Grafite Capital. “There is a high likelihood that that’s what happened today.”

CNBC

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