by Ed Steer
The gold price traded quietly sideways until around 1:40 p.m. China Standard Time on their Friday afternoon. At that point ‘da boyz’ showed up – and it was mostly down hill for the rest of the day – and through the after-hours market as well. Gold was closed just off its low tick.
The high and low were reported as $1.343.60 and $1,331.20 in the December contract.
Gold was closed in New York on Friday at $1,327.80 spot, down $10.40 from Thursday. Net volume, which includes both October and December, was just under 145,000 contracts.