by Ed Steer
The gold price didn’t do much in Far East or early London trading on their Friday, as the world waited for the job numbers report at 8:30 a.m. EDT yesterday morning. And when they were announced, JPMorgan et al were ready. Most of the damage was done by 10:45 a.m. EDT, but shortly before the COMEX close, quiet selling pressure appeared once again — and gold was closed almost on its low of the day.
The high and low ticks were reported by the CME Group as $1,371.00 and $1,340.40 in the December contract.
Gold was closed in New York yesterday at $1,335.40 spot, down $25.00 on the day. Net volume was just over 195,000 contracts — and that includes October and December.