In an otherwise relatively quiet trading session with only the mildest of risk-on tones, gold was something of a standout. The price action came at 9am London time ( just after I posted yesterday’s commentary ) when gold immediately plunged by $20/oz after a huge spike in the volume of orders. It had all the makings of another “fat finger” episode, whether it was selling incorrect volumes, a junior episode or whatever. The interesting thing is that gold did not immediately revert to it pre fat finger level and is still off $11.90 overnight. Mild risk on is consistent with gold lower. European equities closed 0.37% higher (Eurostoxx 600), while US stocks have closed almost flat. The VIX has eased further back into single digit territory.