Gold – And the CoT Report: Words Fail Me

by Ed Steer
Gold Seek


The gold price didn’t do much of anything in Far East and morning trading in London on their Friday, but got sold off a hair once the noon silver fix was in, in London. The price went vertical—and was up $15 the ounce within seconds of the release of the job numbers. It took 20,000+ contracts to cap the price at that point—and once the p.m. fix was done it chopped higher until minutes after 1 p.m. EDT. At that point someone ramped the dollar index—and hit the ‘sell precious metals’ button—and that was it for the gold price. It as sold lower until shortly after 2 p.m. in after-hours trading—and didn’t do much after that.

The low and high tick were reported by the CME Group as $1,276.20 and $1,289.50 in the June contract.

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