Sunday, 30 September 2012

Odd moves price moves for ETF Securities' PHAU and PHGP gold

It's  been a while since I looked at my tiny portfolio of physical gold ETF shares (PHAU) and BlackRock Gold and  General units.
When I do I usually see the kind of thing described here -  what I've started calling a price anomaly when it probably isn't. Generally, because I've left it so long,  I've forgotten what it was I found out the last time.
Anyway, I'm doing it again but as it's near midnight on Sunday I'm sticking to the basics. 

As a sterling investor I check the price of my dollar denominated PHAU shares by looking at the sterling denominated PHGP physical ETF. 
 And every now and again something odd seems to happen: here to PHGP with a sharp price rise - I don't know if the trades shown below the spike caused it or brought it back down as I didn't see it on the day and LSE data on individual trades only seems to be  available on the day itself (the day in question was Wednesday 26 September 2012 at around 4pm UK time)

On the same day a little while earlier something similar happened to PHAU.

The two moves looked like they could be vaguely related.

But they didn't seem to happen to any other physical gold ETFs. I'm still not sure about the significance of any of these moves - there probably isn't any....

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