Yesterday in Gold, Silver, Platinum and Palladium
by Ed Steer
The gold price spiked higher shortly after trading commenced at 6:00 p.m. EDT in New York on Thursday evening — and that was the high tick of the day. It was sold lower until shortly after 12 o’clock noon China Standard Time on their Friday afternoon — and although it rallied from there, that ended at the 2:15 p.m. afternoon gold fix in Shanghai. It was quietly down hill from there until the job numbers hit the tape in New York — and at that juncture, the price blasted higher. It ran into ‘da boyz’ about ten minutes later — and as the dollar index ‘rallied’…the engineered price decline in gold began, with the low tick of the day coming about five minutes before the COMEX close. Shortly after that it began to rally anew, but the price was capped and turned sideways at 2:45 p.m. in after-hours trading — and it didn’t do much after that.