NEW YORK ( TheStreet) -- With net volume being what it was in gold yesterday, I wouldn't read a thing into Tuesday's price action, and the highs and lows aren't even worth my while to look up. Gold closed at $1,275.20 spot, down 80 cents from Monday's close. Net volume was microscopic at only 72,000 contracts. But the silver price action was slightly different. The HFT boyz set a new low price tick for this move down about 11:30 Hong Kong time on their Tuesday morning. The subsequent rally made it back above Monday's New York close by the noon silver fix in London, and that pretty much all she wrote for the remainder of the day both in London and New York. The CME recorded the low and high ticks at $20.20 and $20.475. Silver closed in New York yesterday afternoon at $20.34 spot, down 5.5 cents from Monday. Net volume was pretty light as well at only 24,500 contracts. Platinum and palladium didn't do much price-wise until the equity markets opened in New York. Then both spiked higher until 10 a.m. EST, and then both rallies were met by sellers of last resort. Both finished up a few dollars on the day. Here are the charts. The dollar index close in New York on Monday at 80.73, and then chopped sideways in a very tight range on Tuesday, before falling off a small cliff just before the close yesterday. The index finished at 80.54, which was down 19 basis points on the day. The gold stocks opened in positive territory and hung around just above unchanged until about 12:30 in New York. Then they got sold down into the red and struggled for the rest of the day. The HUI finished down 0.10%. It was more or less the same chart pattern in the silver equities, although you have to wonder why that would have to be the case, but it almost always is. Nick Laird's Intraday Silver Sentiment Index closed up 0.13%. The CME Daily Delivery Report was another non-event, as only 1 gold and 1 silver contract were posted for delivery within the Comex-approved depositories on Thursday. So far this month only two gold and 106 silver contracts have been delivered in the November delivery month. That's not a lot. Once again there was a withdrawal from GLD. This time it was 48,243 troy ounces. And as of 10:05 p.m. EST yesterday evening, there were no reported changes in SLV. The U.S. Mint had a small sales report, as they sold 239,000 silver eagles and nothing else. Monday was a very quiet day over at the Comex-approved depositories in both gold and silver. In gold, only 1,099 troy ounces were reported received, and nothing was shipped out. In silver, nothing was reported received, but 121,517 troy ounces were removed. The link to the silver "action" is here. I have the usual number of stories for a weekday column, and the final edit is 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.