NEW YORK ( TheStreet) -- Not much happened with the gold price until about 30 minutes before the London open. It got sold down a bit---and then didn't do a lot until until the 8:20 a.m. New York open. Then the usual suspects showed up with their computer algorithms---and gold was down five bucks in seconds. The same thing happened at the 9:30 a.m. EDT open of the equity markets, except it was in the other direction. Once that rally was capped, the gold price traded sideways in a tiny range for the remainder of the day. The low and high ticks, such as they were, were recorded by the CME Group as $1,286.00 and $1,297.20 in the June contract. The gold price closed in New York on Tuesday at $1,294.30 spot, up $1.70 on the day. Volume, net of roll-overs, was only 102,000 contracts---only 7,000 more than the volume on Monday. The silver price was under light selling pressure during most of the Far East and morning trading session in London. There was no sign of "da boyz" at the New York open, but the price also popped at the 9:30 a.m. open of the New York equity markets. Once the high was in minutes after the London p.m. gold fix, silver also traded basically ruler flat for the remainder of the day. The low and highs weren't much to write home about, either---$19.225 and $19.465. Silver finished the day at $19.385 spot, up a nickel form Monday. Volume was 31,500 contracts. The platinum price chart was similar to the gold and silver chart, at least up until the London p.m. gold fix. But by the close the sellers of last resort had platinum back almost down where it ended the Monday session---and for the second day in a row all the gains of the day had disappeared by the close. They allowed platinum to close up a whole two bucks. After the low of the day, which came moments before the London open, palladium was in rally mode---and made it up to its high of the day around 11 a.m. EDT. After that, the rally gt capped---and the metal traded sideways for the rest of the Tuesday session. The dollar index, which closed the Monday session at 80.01, didn't do much of anything during the Tuesday session---and it closed at 80.04. The gold stocks started in negative territory, but rallied into the black in the first five minutes of trading. That didn't last, of course---and the stocks traded in slightly negative territory for the remainder of the Tuesday session. The HUI finished down 0.11%---which wasn't bad considering the flat performance of the gold price and the lousy action of the general equity markets. The silver equities started off in negative territory---and the subsequent rally hadn't cracked the unchanged mark by 9:40 a.m. EDT. After that, this silver stocks slid lower, but finally caught a bit of a bid shortly after 2:30 p.m. ---and Nick Laird's Intraday Silver Sentiment Index cut its loss to only 1.13%. The CME Daily Delivery Report showed that 1 gold and 121 silver contracts were posted for delivery within the Comex approved depositories on Thursday. ABN Amro was the short/issuer on all but one of the contracts---and it should come as no surprise that the two largest long/stoppers were Canada's Scotiabank and JPMorgan Chase. Scotiabank stopped only 10 contracts---but JPMorgan stopped 94 contracts---72 for its in-house [proprietary] trading account---and 22 for its clients account. The link to yesterday's Issuers and Stoppers Report is here. There was another withdrawal from GLD yesterday. This time it was 57,778 troy ounces. Since the start of 2014, the GLD ETF has had net withdrawals of a hair under 580,000 troy ounces. And as of 9:40 p.m. EDT yesterday evening, there were no reported changes in SLV. However, since the 2014 year began, there has been net additions into the SLV ETF of 11,626,263 troy ounces. Over at Switzerland's Zürcher Kantonalbank for the period ending Friday, May 16---they reported that their gold ETF had declined by 32,390 troy ounces---and their silver ETF had dropped by 65,909 troy ounces from the prior Friday report. The U.S. Mint had a sales report yesterday. They sold 5,500 troy ounces of gold eagles---2,500 one-ounce 24K gold buffaloes---300,000 silver eagles---and 300 platinum eagles. Ted Butler was expecting way more silver eagle sales than that---and so was I. Let's see what today brings. Over at the Comex-approved depositories in gold on Monday, they reported receiving 32,292 troy ounces---and shipped out 24,701 troy ounces. Virtually all of the activity was at HSBC USA. The link to that action is here. For a change, there wasn't big activity in silver. They didn't report receiving any, but they did ship out 229,287 troy ounces and, like gold, almost all the activity was confined to the HSBC USA warehouse. The link to that action is here. Since yesterday was the 20th of the month---and it fell on a weekday--- The Central Bank of the Russian Federation updated their website with their April numbers. What they showed was that they had purchased 900,000 troy ounces of gold during the reporting month. That, along with their purchase in January 2010, represents the second-largest monthly Russian Central Bank purchase ever---and only the 1.1 million troy ounces added in May 2010 was larger. Nick Laird's most excellent chart below tells all. Once again I have a lot of stories for you today---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.