There was virtually nothing in the price action of gold in the Far East on Friday that suggested that there would be an explosion in the gold price on Friday morning at the Comex open. I’d gone to bed at 5:00 a.m. New York time after filing my Thursday rant that you read yesterday morning. True, at the usual 3:00 a.m. time, gold had peaked at the lofty price of $759. But two hours later the price was still at $759.

Neither gold nor silver showed any signs of life until the Sydney market closed in their afternoon.