YESTERDAY IN GOLD AND SILVER
Well, the big sell-off that started in Asia on Friday morning found an intermediate bottom shortly after London opened for trading yesterday morning. Then shortly before the London p.m. gold fix rolled around at 10:00 a.m. Eastern time, gold had recovered about eight bucks from the London opening low.
But that was it for the day, as the selling began anew... and by 12:35 p.m. Eastern time, another $35 had been shaved off the gold price. This was its low of the day [$1,359.00 spot]... and the price recovered a few dollars doing into the close, but still finished the day down $40.10... 2.85%. (more)