It was a very uneventful Thursday…at least as far as gold and silver prices were concerned. Both metals rose and fell gently from the beginning of Thursday’s trading in the Far East…right up until the London silver fix 13 hours later…which is noon in London and 7:00 a.m. in New York. By that time, their respective prices were both back to almost unchanged on the day. But once the silver fix was in, gold tacked on about $7…and silver gained around 16 cents by the end of New York trading at 5:15 p.m. A certain amount of this rise may have had something to do with the falling US dollar…which began its descent shortly before 11:00 a.m. in New York.

The only happening of note, was that every attempt by gold to breach $940…or silver to break above $14…was quietly turned back.

In early Tuesday trading in the Far East, gold didn’t do much of anything until shortly before 11:00 a.m. in the morning in Hong Kong. From that point, gold got sold off about $8 in an hour. Not a lot, but a pretty big move for the usually quiet Far East market. As it turned out, that was the low for world gold for the day. A quick retest of that price at 3:00 p.m. in Hong Kong…and gold was on its way higher…and the US$ much lower. This lasted through London trading, but ran into the usual brick wall at the Comex open in New York. Once the London p.m. gold fix was in at 3:00 p.m. [10:00 a.m. in New York]…down went the price.

This didn’t last long, and minutes before London closed for the day, a rally began that lasted almost until the end of Comex trading…and