Ted Butler: The Silver Pressure Cooker; Hefty Deposit into SLV

by Ed Steer
Silver Seek


The gold price trended mostly unevenly lower in Far East trading on their Friday, with its Far East low coming at 2 p.m. China Standard Time on their Friday afternoon. From there it didn’t do much until shortly after the London open — and at that point, the dollar index began to head lower. The gold price rallied until the 10:30 a.m. BST morning gold fix — then it traded unevenly sideways, with the high tick of the day coming a few minutes after 8:30 a.m. in New York. It was sold quietly lower from there — and the low tick was set around 12:40 p.m. EDT. It was allowed to rally a bit from there, but the moment it poked its nose back above $1,800 spot, there was someone there to make sure it didn’t close above it — and it trended a few dollars lower until the market closed at 5:00 p.m. EDT.

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