NEW YORK ( TheStreet) -- It was a very quiet day in gold pretty much everywhere on Planet Earth yesterday. Volume wasn't overly heavy, so not much can be read into Tuesday's price action. However, one thing I did note, was the price action on Tuesday was almost a carbon copy of the price action on Monday
The high and low, if you wish to dignify them with that description, were recorded by the CME Group as $1,288.40 and $1,277.40 in the June contract.
Gold finished the Tuesday session in New York at $1,279.80 spot, down an even five bucks from Monday's close. Volume, net of April and May, was around 120,000 contracts.The silver price action had a little more shape to it, but not a lot. The low tick came shortly before 11 a.m. in Hong Kong---and the high occurred minutes after 9 a.m. BST in London, safely below the $20 spot mark. The silver price got sold down a bit from there---and then traded in a 15 cent range for the remainder of the Tuesday session. The high and low here were $19.91 and $19.635 in the May contract. Silver finished the trading day at $19.76 spot, up a whole half a cent. Net volume was pretty light at 22,500 contracts. The platinum price didn't do anything in Far East trading on their Tuesday, but began to rally with some strength beginning at the 8 a.m. London open. That lasted for two hours--and then began to rally anew about 12:30 p.m. BST. But the moment that Comex trading began 50 minutes later, there was a not-for-profit seller laying in wait---and that was it for the day. Platinum closed up a whole five bucks. Palladium got sold down to its low of the day at 10 a.m. Hong Kong time. From there it struggled higher before beginning to rally a bit more strongly starting shortly after 12 o'clock noon in London. The high was in around 1 p.m. EDT---and the metal traded sideways from there. The dollar index closed in New York late on Monday afternoon at 80.11---and didn't do much until shortly after 8 a.m. in New York. Then twice within the space of three hours the index dropped below the magic 80.00 mark, only to be rescued by a not-for-profit buyer. The index closed at 80.08 on Tuesday---basically unchanged from Monday's close. The gold stocks gapped up a percent and change at the open, with the high coming minutes after the 10 a.m. EDT London p.m. gold fix. From there the shares began to slide, hitting their low of the day shortly after 2 p.m.---and then rallied unsteadily into the close, just managing to finish in the black, as the HUI closed up 0.35%. The price pattern in the silver equities was virtually identical---and Nick Laird's Intraday Silver Sentiment Index closed up an even tinier 0.23%. But it's better than the alternative. The CME's Daily Delivery Report for 'Day 3' of the April delivery month showed that 79 gold and 210 silver contracts were posted for delivery within the Comex-approved depositories on Thursday. In gold, the biggest short issuer was F.C. Stone with 60 contracts---and the two biggest long/stoppers were Canada's Bank of Nova Scotia---and JPMorgan Chase in its in-house [proprietary] trading account with 41 and 18 contracts respectively. In silver, JPMorgan issued all 210 contracts out of its in-house [proprietary] trading account---and Canada's Scotiabank stopped 205 of them. The link to yesterday's Issuers and Stoppers Report is here. Another day---and another withdrawal from GLD. This time it was only 67,443 troy ounces. And as of 10:03 p.m. EDT yesterday evening, there were no reported changed in SLV. The U.S. Mint had a sales report yesterday. They started off the new month with sales of 5,500 troy ounces of gold eagles---3,500 one-ounce 24K gold buffaloes---293,000 silver eagles---and 200 platinum eagles. Over at the Comex-approved depositories on Monday there were 32,103 troy ounces of gold deposited into Scotiabank's vault---and 32,103 troy ounces withdrawn from HSBC USA. The link to that activity is here. In silver, nothing was reported received, but 694,053 troy ounces were shipped out, with virtually all of it coming out of Scotiabank's warehouse. The link to that activity is here. From feast to famine. Yesterday I had more stories than I [or you, probably] knew what to do with. Today it's the opposite, so I hope you can find something of interest amongst the few posted below.