Gold pushed higher in the overseas markets, peaking near $740 in mid-London trading, but hit the skids at that point, dropping nearly $15 by the second hour in New York, then was flat through the Comex, before finally tailing off again during the Globex to finish at $722.00, down $1.70 from Friday. Overnight, gold has pushed higher.
Gold didn’t do much on Friday until Sydney closed for the weekend. Then it began a gentle rise through the balance of Hong Kong and most of London trading.
Gold declined from the far East into the first hour of the New York session on Thursday, bottoming at $857 before rallying after the noon hour to finish at $868.40/oz., down $11.70. Overnight, gold has fallen off further.
Gold was higher from the far East to the mid-point of London trading on Wednesday, slumped from there into New York’s second hour, bottoming at $916, but then shot higher for the rest of the day including the Globex, and finished at $931.80/oz., up $12.80.
Neither gold nor silver did much of anything in the Far East or Europe on Tuesday. However, shortly before 10 a.m. in New York, something set a fire under the prices.
Gold was up from the far East through the first half of the London market on Monday, declined in New York from the open to the noon hour, but then bounced decisively off of $900, and registered a gain for the day at $905.40/oz., up $3.80. Overnight, gold is little changed.
Early on Monday morning, both gold and silver had smallish rallies going into the Hong Kong open, but that’s where it ended, as selling pressure took metal to their lows of the session until the New York traders showed up for work.
Gold took it on the chin after holding near $880 in the far East, falling in London and through most of the New York session on Thursday, before finally finding a bottom at $850 and trading sideways for the afternoon hours, finishing at $851.90, down $24.70. Overnight, gold has been flat.
Gold sank pre-Fed, falling as low as $862 in London trading, then seesawed through the New York session on Wednesday, before shooting upward in the Globex market after the interest rate announcement and finishing at $876.60, up $5.50. Overnight, gold has fallen off.
Gold held around $920 until just after London trading began, then went on a nosedive that took it below $900 in the third hour of the New York session Wednesday, after which it did manage to rally back a bit, finishing at $904.80, down $11.40. Overnight, gold has edged lower.