Today’s intraday gold chart looks like the Devil’s Tower mountain in Close Encounters of the Third Kind.
So up they went into the NY trade, and down they came after Europe and Asia went to bed.
There was quite a bit of delivery action yesterday in gold, if delivering claim tickets for bullion of a less than transparent pedigree counts. And as usual there was little to no action with the physical bullion in the warehouses.
Silver had no deliveries reported, but enough movement in the warehouses to warrant a look.