Today in Gold and Silver
New York (Feb 20) The gold price wandered higher in Far East and early London trading on their Thursday, with the high tick coming about 12:30 p.m. GMT in London. It was all down hill from there into the low, which came shortly before 4 p.m. EST in electronic trading. After that, the price didn't do much.
The high and low ticks were recorded by the CME Group as $1,222.90 and $1,205.20 in the April contract.
Gold finished the Thursday session in New York at $1,207.20 spot, down $6.10 from Wednesday's close. Net volume was nothing special at only 107,000 contracts.
The silver price followed the gold price very closely yesterday, so I shan't add anything to what I've already said about gold. And it was, like in gold, just another slice---albeit tiny---off the proverbial salami.
The high and low ticks were reported as $16.77 and $16.32 in the March contract.
Silver was closed yesterday at $16.375 spot, down 12 cents on the day. Net volume was only 24,000 contracts.
The platinum price followed a similar price path to gold and silver, except its low tick came around the London p.m. gold fix. It rallied five bucks after that, before trading flat for the remainder of the New York session, closing at $1,169 spot---and unchanged on the day.
Palladium chopped around unchanged for almost the entire Thursday session, but the moment the London p.m. gold fix was in, it rallied ten bucks or so before getting capped. The metal closed at $784 spot, up 9 dollars on the day.
The dollar index closed late on Wednesday afternoon in New York at 94.10---and after dipping below the 94.00 level on a couple of occasions, hit its 93.87 low about 8:30 a.m. in London trading. At that point 'gentle hands' put in an appearance again---and its 94.44 high tick came around 2:45 p.m. EST. After that it traded flat. The index closed at 94.40---and up 30 basis points from Wednesday's close. Operation "Save the Buck" was successful once again.