by Ed Steer
Ed Steer’s Gold & Silver Daily
Yesterday in Gold and Silver
The gold price struggled to stay above the $1,600 mark through most of Far East and London trading during their Thursday. But a rally began shortly before 1:00 p.m. in London…8:00 a.m. in New York…and by the time the high tick of the day was in about forty-five minutes later, gold had reached $1,616.60 spot.
But that’s as high as it was allowed to get before it got sold down hard…and that, as they say, was that.
From there, gold got sold progressively lower until around 12:30 p.m. Eastern time…which appeared to be its low of the day at $1,582.60…and then gained back a handful of dollars going in the close of the New York trading session.