Gold was dead flat from Hong Kong to mid-morning in New York on Tuesday, after which it staged a modest rally to finish at $907.90/oz., up $10.60. Overnight, gold is pushing higher.

Platinum traded very tightly, never straying much from the $1040-1050 range, and ending at $1051/oz., up $10. Overnight, platinum is little changed.

Silver mirrored gold for the second straight day, taking off higher from the same flat mid-morning point and pushing into positive territory to close at $12.77/oz., up 20 cents. Overnight, silver is trending higher. (Click here for charts)

The precious metals had been doing a good bit of backing the first two days of the week, and yesterday turned around to do some filling.

The usual suspects played little part in providing a sense of direction, with both the dollar and oil falling and equities rallying for a second day. But there is probably more than a

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Here's an excerpt from my second Red-Hot Commodity ETFs issue for today ...

Central Banks around the world have apparently decided it’s “free money day.” I’m thinking of driving by the Federal Reserve, just to see if they throw a billion dollars at me when I make a sad face. Hey, the First Bank of Sean could really use that kind of cash infusion. Anyway, needless to say, this is supportive for gold.And you want to know what is REALLY supportive for gold? British regulators just banned short-selling of financial stocks. Why don’t they write “PANIC!” on their foreheads with magic markers and run around screaming on the trading floor? It would have the same effect.If paper gold keeps going higher -- and it certainly could -- we may suddenly see gold eagles available on the market again. The disconnect between paper and physical gold

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