Well, the wonderful rally we had on Tuesday was not allowed to blossom into anything on Wednesday. The high of the day was about 15 minutes after trading began on the Globex trading system at the start of the business day in Sydney, very early Wednesday morning. From there, the price oscillated between $750 and $760…until half an hour after the London p.m. fix. Then, the $20 price spike that we had on Tuesday at that time, was completely reversed…almost to the penny.

The much anticipated presidential rally failed to materialize as profit taking was the story of the day during Wednesday trading on the Canadian markets. For the tale of the tape, the TSX Exchange gave back 2.27%, while the TSX Gold Index fell back 1.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 2.44% with the declining issuers outpacing the advancers by a 484 to 322 margin on volume of 130 million shares traded.