caseyresearch.com / By Ed Steer / January 22, 2013
Note to readers: As you will read further down, I had some real e-mail issues…and that’s why today’s column [such as it is] is late.
With the U.S. markets closed for the Martin Luther King holiday…and not forgetting the inauguration…it was pretty quiet in the gold market everywhere on Planet Earth yesterday. Gold rallied about five bucks to around the $1,690 spot mark shortly after the markets opened in the Far East…and then more or less stayed at that level for the rest of the day.
Gold closed the trading at $1,690.10…up $5.40 on the daily. Net volume was hardly worth mentioning…around 35,000 contracts.
Silver rallied about a dime at the Far East open on their Monday…and they slid to its low of the day, which came shortly after 11:00 a.m. in London. From there it recouped all its losses…and finished the day at $32.02 spot…up 15 cents from Friday’s close. Volume was only 11,000 contracts.