New York Globex?

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Someone on Daily Paul keenfully pointed out that last week, we saw Gold drop because on the spot chart (as seen on www.kitco.com), we no longer just have "New York" time, but New York Globex...?

I read the article explaining it, but don't get it exactly....is it 24 hour trading...that is keeping things going? I don't understand fully.

THANKS!