NEW YORK ( TheStreet) -- The gold price didn't do much on Wednesday up until shortly after the Comex open in New York. The low of the day [$1,1315.90 spot] was set at 8:45 a.m. EDT, and from there the gold price rallied until shortly after the 11 a.m. EDT London close. The high print [$1,339.20 spot] came at 1 p.m. After that it sold off a handful of dollars into the close of electronic trading in New York at 5:15 p.m. Gold finished the Wednesday trading session at $1,333.10 spot, up $10.10 on the day. Net volume was close to 151,000 contracts, down a bit from Tuesday. It was very much the same story in silver, with the low print [$21.43 spot] coming at the same time as gold, at 8:45 a.m. EDT. From there the silver price rallied to its 12:45 p.m. high [$22.07 spot] before getting sold down about two bits into the close. There seems to be some sort of ceiling at $22 the ounce at the moment, as every attempt that breached that number so far this week has been met with a wave of obvious not-for-profit sellers. Silver closed on Wednesday at $21.795, which was up 7.5 cents from Tuesday's close. Net volume was 42,000 contracts. Platinum and palladium traded in a very tight range around the unchanged mark everywhere on Planet Earth yesterday. Here are the charts. The dollar index closed on Tuesday at 80.59 and then peaked at 80.62 at precisely 12 noon in Hong Kong on their Wednesday. The index slid to its low of 80.29 just minutes before noon in New York, and then rallied a handful of basis points into the close. The index finished at 80.345, which was down about 25 basis points from Tuesday. The dollar index has been trading in a very tight range between 80.2 and 80.6 for about a week now. The gold stocks opened in the green and rallied to their highs of the day shortly before the 1:30 p.m. Comex close. From there, they sold off a bit as the gold price got sold down as the day worn on. The HUI closed up 1.98%. The silver equities had a similarly shaped chart, but didn't close the day up quite as much as the gold stocks. Nick Laird's Intraday Silver Sentiment Index finished the Wednesday session up 1.68%. The CME's Daily Delivery Report showed that 22 gold and 57 silver contracts were posted for delivery within the Comex-approved depository on Friday. In gold, JPMorgan Chase was the only short/issuer out of its in-house [proprietary] trading account. HSBC USA and Scotiabank stopped them all. In silver, Credit Suisse was the short/issuer on 56 contracts. Scotiabank and HSBC USA were the long/stoppers on 52 of them. The link to yesterday's Issuers and Stoppers Report is here. There were no reported changes in either GLD or SLV yesterday, and also no sales report from the U.S. Mint. There was very little activity in gold in the Comex-approved depositories on Tuesday, as only 3,009 troy ounces were reported deposited, and nothing was shipped out. And in silver, only 996 troy ounces were reported received. I have a fair number of stories for you today, and I'll leave the final edit up to you.
This is an abbreviated version of Ed Steer's Gold & Silver Daily Sign-up to have to the complete market review delivered to your email inbox each morning for free.