Gold and silver both showed decent strength throughout the Far East and into the European trading day on Tuesday. However, a few minutes before 8:00 a.m. New York time, the boys showed up and the waterfall declines were underway.

Not much happened with gold and silver in Far East trading early Friday morning. However, about two hours before New York opened, a sell off began in both metals in London trading. This ended the moment that trading on the Comex (IAU) started…with the prices peaking at the London p.m. fix at 10:00 a.m. NY time. From there, both metals were taken down.

Both gold and silver were under pressure right from the Sydney open early yesterday morning in Far East trading. The prices bottomed just after midnight last night New York time. The gains from a feeble rally in gold and silver during London trading disappeared in the last two hours leading up to the NY open.

Both gold and silver started off quietly in early Monday morning trading in the Far East. It wasn’t until 3:00 a.m. New York time that both metals got sold off right up until the Comex opened. Gold was down $10 and silver about 25 cents. However, once the Comex got going, rallies commenced in both metals.

Once again, gold and silver did absolutely nothing on Thursday in either the Far East or Europe. However, shortly after the Comex opened in New York, gold headed higher with a vengeance for a couple of hours, before it ran into the usual not-for-profit sellers.