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Switzerland: The World’s Gold Hub

by Ed Steer
Ed Steer’s Gold & Silver Daily

Yesterday in Gold and Silver

The gold price was well behaved right up until 8:30 a.m. in New York. The rally that began at that point got stepped on immediately by one of the not-for-profit sellers…and thirty-five minutes after that, the engineered price decline began…and kept up for the rest of the Comex trading session.

Ten minutes after the close of Comex trading, the gold price got kicked down the stairs one last time in the thinly-traded electronic market. The high tick of the day [$1,774.50] came at 8:45 a.m…and the low tick [$1,751.20 spot] came at 1:50 p.m. Eastern.

Gold closed at $1,754.30 spot…down $12.90 on the day. Volume was around 136,000 contracts.

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