YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM
25 July 2020 -- Saturday
The gold price traded quietly and unevenly sideways until around noon China Standard Time on their Friday. It was sold down to its low tick of the day by shortly after 1:30 p.m. CST -- and its subsequent rally was capped just minutes after 9 a.m. in London. From that point it was sold lower until around 11:45 a.m. BST. The ensuing rally ran into 'something' at 9:30 a.m. in New York -- and it was sold lower for the next fifteen minutes. It rallied a bit from there -- and then traded mostly evenly sideways until the market closed at 5:00 p.m. EDT.
The low and high ticks in gold were recorded by the CME Group as $1,880.50 and $1,904.60 in the August contract. The August/October price spread differential at the close on Friday was $12.60... October/December was $15.10 -- and December/February was $10.60.
Gold was closed in New York on Friday afternoon at $1,901.30 spot, a new closing high for this move up, but 6 bucks off its Kitco-recorded high tick of the day. Net volume was pretty heavy at a bit under 208,500 contracts -- and there was 80,500 contracts worth of roll-over/switch volume out of August and into future months, mostly October, December and February....