Yesterday in Gold, Silver, Platinum and Palladium
by Ed Steer
The gold price rallied to its high of the day at the 10:15 a.m. morning gold fix in Shanghai on their Friday — and then didn’t all that much until 1 p.m. BST in London/8 a.m. in New York. It was sold lower from there, with the low tick coming shortly after 9 a.m. in New York — and although it rallied a bit from there, it then continued lower until noon EDT. A rather spirited rally commenced at that juncture, but that was capped and turned quietly lower starting around 2:45 p.m. in after-hours trading — and it didn’t do much of anything after that.
The high and low ticks in gold were reported by the CME Group as $1,956.60 and $1,921.60 in the December contract…$1,948.80 and $1,914.60 in October. At the close on Friday, the October/December price spread differential in gold was $8.10 …December/February was $7.40 — and February/April was $5.10.