We are Witnessing a Historic Bottom in Gold: London Trader

¤ Yesterday in Gold and Silver

Once the gold price broke through the $1,600 level shortly after the London open yesterday morning, it never looked back.  The rally moved along in fits and starts until 11:15 a.m. Eastern time.  Then it more or less traded sideways for the rest of the New York trading session.

Gold closed at $1,615.20 spot…up $21.30 on the day.  Volume was pretty light…around 107,000 contracts.

The silver price basically followed the same type of trading pattern as the gold price.  Silver closed the day at $29.56 spot…up 76 cents.  After a monstrous 50,000 contract volume day on Monday, silver’s volume on Tuesday was a much more subdued 23,500 contracts.

Click below to continue reading:

We are Witnessing a Historic Bottom in Gold: London Trader – Ed Steer’s Gold & Silver Daily.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: