NEW YORK ( TheStreet) -- It was a very quiet trading day everywhere on Planet Earth on Monday, as volume was exceedingly light. I would guess that this lack of activity had something to do with Veteran's Day/Remembrance Day. As has been the case lately, the gold price got sold down a few dollars when New York opened for trading on Sunday night, and the low tick of the day was printed at 9:30 a.m. GMT in London. The subsequent rally didn't get far, or wasn't allowed to get far; and gold traded almost ruler flat for the remainder of the day in both London and New York. The CME recorded the low tick in London as $1,278.10 in the December contract. Gold closed at 5:15 p.m. EST in New York yesterday at $1,281.90 spot, down $7.60 from Friday's close. Volume, net of roll-overs, was only 73,000 contracts. The price pattern in silver was identical to the one in gold, and the CME recorded the low tick, which occurred at the same 9:30 a.m. GMT time as gold, at $21.23 in the December contract. Silver closed in New York at $21.35 spot, which was down 16 cents from Friday's close. Net volume was microscopic at only 18,500 contracts. Both platinum and palladium traded flat until Zurich opened, and then both metals got sold down to their respective lows, which came at, or just before, the 8:20 a.m. EST Comex open in New York. The subsequent rally in platinum didn't get far, but palladium made it back to almost unchanged. Here are the charts. The dollar index closed in New York on Friday at 81.23, and traded flat in the Far East up until 2 p.m. local time in Hong Kong. From there it slid down to around 81.10 by 10:30 a.m. in London, which was very close to the London a.m. gold fix. The index didn't do much after that, closing in New York at 81.07, which was down 16 basis points from Friday's close. Here's the chart, including Friday's data and the big-run up at the 8:30 a.m. jobs report on that day. The gold stocks gapped down at the open, and hit their low of the day at precisely 10 a.m. EST. The subsequent rally worked its way back to almost unchanged by the close of trading in New York, as the HUI closed down only 0.18%. It was precisely the same chart pattern in silver, with the low tick also coming at exactly 10 a.m. EDT. The subsequent rally took silver stocks back into the green, as Nick Laird's Intraday Silver Sentiment Index closed on the positive side of unchanged at 0.00%. The CME Daily Delivery Report showed that zero gold and 2 silver contracts were posted for delivery within the Comex-approved depositories on Wednesday. Like I said last week, November is always a slow delivery month, and it's certainly living up to its reputation. There were no reported changes in GLD, and as of 7:41 p.m. EST, there were no reported changes in SLV. But when I checked it again at midnight last night EST, it showed that an authorized participant had removed 1,733,843 troy ounces. There was no sales report from the U.S. Mint, but I'm sure that they were closed for Veteran's Day. Over at the Comex-approved depositories on Friday, they reported receiving a smallish 4,822 troy ounces of gold, and didn't report shipping any out. The link to that activity is here. As always, there was far more activity it silver, as these same warehouses reported receiving 500,318 troy ounces, and shipped out 82,177 troy ounces. The link to that action is here. There was no November Bank Participation Report posted on the CFTC's website yesterday, either. Ted Butler felt it might have had something to do with Veteran's Day. If that's the case, the report should be up on their website before 3:30 p.m. EST today, along with U.S. Mint sales. I don't have all that many stories today, and the final edit is up to you.
This is an abbreviated version of Ed Steer's Gold & Silver DailySign-up to have to the complete market review delivered to your email inbox each morning for free.