A Very Constructive COT Report

Yesterday in Gold, Silver, Platinum and Palladium

by Ed Steer
Gold Seek

The gold price traded unevenly sideways to a bit lower until shortly before 1 p.m. China Standard Time on their Friday afternoon. It crept a bit higher from there until the high tick of the day was set at, or just before, the 10:30 a.m. BST morning gold fix in London. It was sold back to about the unchanged mark by the COMEX open in New York — and it then had a down/up move between then and around 10:35 a.m. EDT. It was quietly down hill from there — and gold was closed close to its low tick of the day.

The high and low ticks were reported as $1,735.50 and $1,703.10 in the June contract. The May/June spread differential was 4 dollars — and June/August was a bit under 13 bucks.

Gold was closed in New York on Friday afternoon at $1,702.90 spot, down $15.10 from Thursday — and about 24 dollars off its Kitco-recorded high of the day.

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