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YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM
The gold price certainly didn't do much yesterday in Far East and London trading, but its rally into the 10 a.m. EST afternoon gold fix in London was dealt with in short order -- and it was sold lower until a few minutes before the 11 a.m. EST London close. It crawled quietly higher from that point until trading ended at 5:00 p.m. in New York.
The high and low ticks were reported as $1,852.70 and $1,832.00 in the February contract. The February/April price spread differential in gold at the close yesterday was $4.00...April/June was $2.70 -- and June/August was only $2.30.
Gold was closed in New York on Friday afternoon at $1,838.10 spot, down $3.20 on the day. Net volume was very light at a hair under 159,000 contracts -- and there was a tiny bit under 13,000 contracts worth of roll-over/switch volume on top of that.
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The silver price chopped mostly sideways in Far East trading on their Friday, but that all ended when it took off higher starting shortly before 2 p.m. China Standard Time on their Friday afternoon. That rally was capped and turned sideways minutes after 3 p.m. CST -- and it then went back to chop nervously sideways until the jobs numbers hit the tape at 8:30 a.m. in New York. There was a flurry of price activity at that juncture but, like gold, its price was handled in a similar fashion for the remainder of the Friday session.
The low and high ticks in silver were recorded by the CME Group as $24.065 and $24.585 in the March contract. The March/May price spread differential at the close yesterday was 6.3 cents...May/July was also 6.3 cents -- and July/September was 5.5 cents.
Silver was closed on Friday afternoon in New York at $24.16 spot, up 11 cents from Thursday -- and 33 cents off its Kitco-recorded high tick of the day. Net volume was slightly elevated at around 65,500 contracts -- and there was about 3,400 contracts worth of roll-over/switch volume in this precious metal.
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