caseyresearch.com / Ed Steer / January 15, 2014
¤ YESTERDAY IN GOLD & SILVER
The gold price didn’t do much in Far East trading, but got sold down a few dollars beginning at the London open. The rally that developed about 12:30 GMT, got stopped in its tracks at exactly 10:30 p.m. EST in New York—and 45 minutes later a not-for-profit seller peeled about ten bucks off the price in just a few minutes. After that, the gold price traded more or less sideways into the 5:15 p.m. EST electronic close.
According to the CME Group, the high and low ticks were $1,254.90 and $1,241.10 in the February contract.
Gold closed in New York yesterday at $1,245.00 spot, down $7.40 from Monday’s close. Net volume was pretty light at only 102,000 contracts.