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NEW YORK (TheStreet) —
The gold price didn't do much in Far East trading yesterday—and the only rally worthy of the name began once the London a.m. gold fix was done for the day at 10:30 a.m. BST, which was 5:30 a.m. EDT. Gold rallied until 8:10 a.m. EDT—about ten minutes before the Comex open—and at that point someone hit the 'Buy the dollar index/Sell the precious metals” button. The low came a minute or so after 12 o'clock noon in New York—when the dollar 'rally' ended at precisely the same moment—and the precious metal traded sideways from there into the 5:15 p.m. EDT electronic close.
The high and low ticks were recorded as $1,234.00 and $1,219.30 in the December contract.
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