Is the Kitco site that accurate ?

[thebeav]

Hello all,

I've been watching the Asian markets for the first hour of opening today (Sun afternoon) and there is absolutely no change in any spot prices. A little hard to believe.....

Is the NY market the only place where any trading actually takes place? Seems strange to me.

Perhaps Kitco isn't as dependable as I've always thought.

 

Paul

 

[World Colonial]

No, NY is not the only place. There is trading in London and I believe at least Tokyo and Singapore.

[thebeav]

Two and a half hours later and there is still no sign of an overseas trade. This site is not to be trusted for markets other than NY.

 

Paul

[PerryHall]

Kitco is currently showing that gold is up 90 cents.

[DC Dawg]

Kitco is very accurate. As opposed to some other sites, Kitco does live updating. The only delay are communications issues between the exchanges and Kitco's computers. Besides, I know someone who works for them. We've discussed their systems--which are very impressive!

 

However, be careful of the information you look at--the site is very "busy" and can be difficult to read. Kitco does have tables on the London market, which is the other major market trading precious metals. The other major market is the Hong Kong market. Because of a number of issues, the Hong Kong market influences the London market. London influences the New York market. Since we're USA centric, investors are interested in the London market as a barometer of the New York market.

 

BTW: If you want the data that US-based investors use in trading go to the site for the New York Mercantile Exchange. While they don't offer banners for websites, NYMEX is the market where gold is traded and maintains the current price for the New York market. It is updated sooner than Kitco (by seconds!).

 

Scott

[Conder101]

Oh it's probably accurate, but any site can develop a glitch and if the site is based here in the US it WAS Sunday afternoon, and they probably had delays in getting in someone to fix it.

[thebeav]

, but any site can develop a glitch and if the site is based here in the US it WAS Sunday afternoon,

 

Could very well be......

 

Scott, tnx for the NYMEX link, that's interesting.....

 

Paul