Gold was flat until the beginning of the London session, then shot higher until just after the New York open on Thursday, peaking at $925, after which it eased through the rest of the day, finishing at $914.50/oz., up $8.60. Overnight, gold has been flat.

Platinum followed a very similar path to gold, ending at $974/oz., up $9. Overnight, platinum has pushed higher.

Silver also jumped from the London to the New York open, but it leveled off there until near the Comex close, when it rallied again, finally closing at $12.90/oz., up 36 cents. Overnight, silver has edged lower. (Click here for charts)

If was a pretty strong day for the precious metals, especially considering that the dollar was only marginally lower against the euro, but oil and equities both turned higher as the day wore on.

Gold is in fact not only moving contrary to stocks, up 3%

Gold pushed over $850 in early London trading, and again during the first hour in New York yesterday, but then eased in listless action to finish the day little changed at $834.60, up $2.40. Overnight, gold has pushed higher.

Platinum was up sharply in the far East, then traded tightly rangebound through the day, rolling between $1020 and $1040 and ending at $1032/oz., up $45. Overnight, platinum has fallen off.

Silver was also rangebound, between $10.70 and $11.10, but fared better than gold as it closed in the upper part of the range at $10.96/oz., up 29 cents. Overnight, silver has edged lower. (Click here for charts)

It was a generally up day for the precious metals, as equities retreated after Monday’s big runup, and oil sank along with the dollar.

Gold’s lack of sharp movement is obviously, at least partially, the result of it being pulled on hard from opposite directions.

“The next Fourth Turning is due to begin shortly after the new millennium, midway through the Oh-Oh decade. Around the year 2005, a sudden spark will catalyze a Crisis mood. Remnants of the old social order will disintegrate. Political and economic trust will implode. Real hardship will beset the land, with severe distress that could involve questions of class, race, nation, and empire.”

– William Strauss and Neil Howe, The Fourth Turning, 1997

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