Apparently, it's never happened before. CBOT's gold contract is up and running while Comex is closed. We're still trying to figure out if this will mean anything for the price of gold contracts today but we can't get that "Mr. Hot Stock Tip Giver-Out" song out of our head to think long enough clearly.
From Peter Brimelow's MarketWatch column:
Friday, in fact, will be a historic day: It will be the first occasion on which the Chicago Board of Trade gold contract is open when the Comex division of Nymex is closed. The CBOT contract became a serious competitor to New York's within the last year.
The Chicago contract outflanked New York by going electronic. In commodities courses at Stanford Business School a million years ago I was taught an entrenched futures markets could not be displaced.
They reckoned without the computer.
This means that Friday could actually be an interesting day for gold in America. If speculators wish, they can make a statement.
Friday will be historic day for gold [MarketWatch]