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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