New York session in gold trading
The New York session, from about 8 a.m. Eastern, brings US data at 8:30, the COMEX open at 8:20 and the London overlap; it is gold's most volatile stretch.
Also called US session, New York open, COMEX session
The New York session runs from the US morning until the 5 p.m. Eastern close. Its first hours overlap with London and contain the three biggest intraday drivers of gold: the 8:30 a.m. data releases (CPI, NFP, PCE and others), the 8:20 a.m. COMEX pit open and the 9:30 a.m. US equity open. On FOMC days a second burst arrives at 2:00 p.m. The overlap with London, until about 11:30 a.m., is when gold’s volume and range are typically highest.
How it applies to gold trading
The New York morning is where most of gold’s daily range is made on data days. Traders either trade the data reaction, usually the retracement after the first spike rather than the spike itself, or wait for the 9:30 to 10:00 a.m. window when the equity open and the ICT silver bullet hour coincide. The London range becomes the New York session’s reference, swept or broken in the same way the Asian range is at the London open.
Afternoons are usually quieter and trend less, with liquidity fading toward the 5 p.m. close. Spreads widen into the daily break.
A common mistake
Carrying a position from the London session into 8:30 a.m. data without a decision. The release can move gold more in one minute than London did all morning, with slippage on any stop.
See also: London open, NFP, CPI, Killzone.
Frequently asked questions
What time does the New York session start for gold?
Activity builds from about 8 a.m. Eastern, with the main data at 8:30 a.m., the COMEX open at 8:20 a.m. and the equity open at 9:30 a.m. The session ends at the 5 p.m. close.
Is New York or London better for trading gold?
New York usually has the larger moves because of US data; London has the cleaner opening pattern around the Asian range. Many traders trade both opens and skip the afternoons.