Friday’s COT Report: A WTF Moment For the Ages? - Ed Steer

Dec 14 18:12 2017 Print This Article

December 14, 2017

YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM

The gold price

was up a dollar or so in Far East trading on their Friday, but was turned lower

once London opened. That tiny downturn lasted until at, or shortly after,

the 10:30 a.m. GMT morning gold fix in London — and the price began to tick

higher from that point. The big price slam that I was expecting on the

release of the jobs numbers never materialized, but the volume between 8:30 and

10:00 a.m. in New York yesterday was amazing. That tiny rally in gold was

capped and turned lower starting around 9:40 a.m. EST. That tiny sell-off

ended at

precisely 1:30 p.m….which was the COMEX close. That tick

is not visible on the Kitco chart below, but stands out clearly on the New York

Spot [bid] chart. From that juncture the price began to creep higher

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Sprott Money

Established in February 2008, Sprott Money Ltd. is a leading precious metals wholesale, institutional and retail dealer selling gold, silver and platinum bars, coins and wafers online and over the phone. Sprott Money's storage program gives clients the ability to store their precious metals in multiple storage facilities located in Canada, the United States and internationally. Sprott Money Blog, which covers world events, geopolitics and of course precious metals.

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