Tuesday, 6 March 2012

(Correction) £8 million PHAU gold ETF sale at 9.44 am

It may not compare to the 31 tonnes of gold futures sold on 29 February after Ben Bernanke's speech -  but this morning someone sold an £8m lump of PHAU shares on the London Stock Exchange.

(Update and correction: I just checked with LSE and "Ordinary Trades" are not registered as buys or sells as they are transactions that take place off the exchange between two parties - and the details of whether there was a buyer or seller initiating the deal is not provided so, in retrospect, I don't know if this was a buy or a sell! Apologies. )

I haven't looked over the big selling day, the 29 February, there may have been many more big sales than this. It looks like it was placed, then cancelled then placed again. 

It was the largest of the day so far. For PHGP there have so far been no trades over £1 million. 

Its a little unnerving considering I bought some PHAU shares yesterday! But hopefully I've learnt my lesson and will be hanging on through the ups and downs this time.

Meanwhile gold drops down further - now below £1,680: (Reuters: Gold slides below key support as dollar strengthens)

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