N.Y. Fed’s Auxiliary Gold Vault May Be JPMorgan’s…and a Device of Foreign Policy
caseyresearch.com / Ed Steer / January 29, 2015
¤ YESTERDAY IN GOLD & SILVER
The gold price was under sporadic and quiet selling pressure during the Wednesday trading session, as the big traders had to be out of their futures contracts by the close of COMEX trading yesterday afternoon. The news, or lack thereof, from the FOMC meeting ended up manifesting itself as a small squiggle on the chart below—and that was all.
The high and low were reported by the CME Group as $1,293.30 and $1,279.00 in the February contract.
Gold finished the trading session in New York yesterday at $1,283.30 spot, down $8.80 from Tuesday’s close. Gross volume was over the moon at 344,000 contracts, but netted out to only 26,000 contracts.
After getting sold down its low tick shortly after 12 o’clock noon Hong Kong time, the silver price began to chop quietly higher—and was actually a few pennies above unchanged by the time the smoke went up the chimney at the Fed. Then it got sold down about fifteen cents—and closed slightly lower on the day.
The post N.Y. Fed’s Auxiliary Gold Vault May Be JPMorgan’s…and a Device of Foreign Policy appeared first on Silver For The People.
