Sunday, 3 June 2012

Very odd price crashes for gold stocks on Friday on London Stock Exchange

Prices drop in final trades
Despite Friday's massive rises for precious metals the shares of a number of gold and silver miners trading on the London Stock Exchange saw their closing prices drop sharply.

Fresnillo (FRES) shares closed down more than 4% after a one-off trade. Randgold Resources (RRS) and African Barrick Gold (ABG) also saw their prices plunge from daily highs. 

This may be normal after a volatile day but it still looks odd. These kinds of moves  have been noted on this blog before (here and here) showing that the share price of Fresnillo tends to jump at the end of trading days.