by Ed Steer
Ed Steer’s Gold & Silver Daily
Yesterday in Gold and Silver
It was a pretty quiet trading day on Thursday as well. After trading flat up until just after 11:00 a.m. Hong Kong time on Thursday morning, gold got sold down to its low of the day [around $1,755 spot] about eight hours later at 11:15 a.m. in London.
Gold rallied from there…except for the slight dip going into the London p.m. gold fix. The rally ended just before noon in New York…and gold traded sideways from there into the 5:15 p.m Eastern electronic close.
When all was said and done, gold closed at $1,768.50…down $1.20 from Wednesday’s close. Net volume was in the area of 150,000 contracts.