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JP Morgan et al go M.I.A. on the Job Numbers

Saturday, November 5, 2016 22:10
% of readers think this story is Fact. Add your two cents. / By Ed Steer / Sunday, 6 November 2016

The gold price dipped back below the $1,300 spot mark in late morning trading in the Far East on their Friday, with the low tick of the day coming at the London/Zurich open. It was back above $1,300 spot in little over an hour — and the tiny rally on the release of the job numbers got capped at 9 a.m. in New York — and that was pretty much it.

Once again, the high and low ticks aren’t worth looking up.

Gold finished the Friday session at $1,304.00 spot, up $1.80 from Thursday’s close. Net volume was pretty hefty at just under 181,000 contracts.

It was more or less the same price pattern in silver, with the low tick in that precious metal, such as it was, also coming at the London open. From that point, it rallied rather unenthusiastically until around 10:30 a.m. in New York — and didn’t do a lot after that.

The low and high ticks aren’t worth looking up here, either.

Silver closed in New York yesterday at $18.405 spot, up 8 cents on the day. Net volume was very decent as well, at a hair over 49,000 contracts.


The post JP Morgan et al go M.I.A. on the Job Numbers appeared first on Silver For The People.


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