NEW YORK ( TheStreet) -- Once again it was a nothing day in Far East trading---and the tiny rally that began around 9 a.m. in London, met the usual fate from the usual suspects shortly before 9 a.m. EDT. By 12:25 p.m. in New York, the gold price was back to unchanged---and traded flat for the rest of the Wednesday session. And, once again, the high and low ticks aren't worth trouble of looking up. Gold closed in New York yesterday at $1,260.60 spot, up 70 cents from Tuesday's close. Volume, net of June and July, was only 81,000 contracts. The silver price didn't do a thing in either Far East or morning trading in London---and the smallish rally that began shortly before New York open, ran into not-for-profit sellers moments before 9 a.m. EDT just like gold did. Nothing free market about this. From thereon in, the price pattern in silver was a mini version of what happened in gold. The low and high aren't worth looking up here, either. Silver finished the Wednesday session at $19.195 spot, up a half a cent from Tuesday. Net volume was pretty light at 20,500 contracts. Platinum traded flat until 10 a.m. in Zurich---and the tiny rally that started at that point didn't get far---and by the close of New York trading was only up a buck. The action in palladium was a bit more interesting. After trading flat in the Far East, the price began to inch higher at the Zurich open---and then jumped seven or eight bucks about 10:30 a.m. in New York. That rally obviously got capped---and the metal traded sideways for the remainder of the day, but closed up 6 bucks. The dollar index close late Tuesday afternoon in New York at 80.805---and jumped to its 80.89 high shortly after trading began in the Far East on their Wednesday morning. But from there, the index chopped quietly lower---and the index closed at 80.77, down a small handful of basis points. The gold stocks gapped up a bit---and then ran up to their high of the day by around 12:15 EDT in New York. From there they got sold down, but began to rally anew around 1:15 p.m. EDT---and came very close to gaining back all their loses. As it was, the HUI closed up 1.83%---and within a whisker of its 12:15 p.m. high tick. The silver equities put in a similar price performance---and Nick Laird's Intraday Silver Sentiment closed up 1.90%. The CME Daily Delivery Report showed that 235 gold and zero silver contracts were posted for delivery within the Comex-approved warehouses on Friday. The only short/issuer was Barclays. There was a decent list of long/stoppers, but the 'big 4' were Morgan Stanley, Barclays, JPMorgan in its client account---and Deutsche Bank. They will take delivery on 216 of those contracts between them---and if you want to see the details, the link to yesterday's Issuers and Stoppers Report is here. There was no reported change in GLD yesterday, but an authorized participant removed 1,056,400 troy ounces from SLV. Based on the silver price action over the last week or so, it's a good bet that this metal was needed elsewhere---and a buyer showed up, bought the shares---and immediately redeemed them. There was no sales report from the U.S. Mint. Over at the Comex-approved depositories on Tuesday, they reported receiving 16,075 troy ounces of gold---and shipped out 32,114 troy ounces. The link to that activity is here. And in silver, nothing was reported received---and 135,802 troy ounces were shipped out the door for parts unknown. The link to that action is here. Before I start posting stories, here are four charts showing the long-term trends in Japan---and certainly gives credence to why Kyle Bass is short Japanese bonds. I thank Casey Research's Louis James for passing these around yesterday---and Nick Laird for getting them in shape for posting. I have the usual number of stories for a weekday column---and I'm more than happy to leave the final edit 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.