• Gold: malleable, ductile, and volatile: Intraday movements in gold prices

    8 days ago - By FRED

    Despite appearances, the graph above has two lines. If you look really closely, you can see a second color peeking out here and there. And what two series are these that track each other so closely? One is the daily price of gold in London as of 10:30 a.m. The other is also the daily price of gold in London but as of 3 p.m. You'd expect these prices to be very close to each other, but let's graph the percentage change between the price at 10:30 a.m. and 3 p.m. to see exactly how similar they are.
    In fact, what we have here is a fairly volatile series.* Many of these price changes, which...
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