I believe most did not notice. Admist the happenings in Germany, the Dow Jones and Gold prices were tanking like loose cannons. Dow Jones closed 99 points down while gold is down $35 (one of the biggest drop in a day). I did mention before gold is on a temporary downtrend and here we are having a $35 drop within a day. Its now trading at $568. London loco gold (the real gold we save in) is still trading above $600. What a day. It got me thinking if the price reflected on my real-time quotes software was correct. Afterall there is a 30 dollar difference between the spot and futures price which is quite a huge disparity. Take a look at the 30 minute chart and decide for yourself.
5 minutes ago, i checked Interactive Brokers (http://www.interactivebrokers.com) for the overnight margin required for a KOSPI contract. Guess how much it was? 13,000 USD ......... yes, no doubt about that. i think i have to stop dreaming about KOSPI for a while. Shall stick to the margin-friendly GBP and EURO. An exciting opening for Asia i believe in 3 hours.
