NEW YORK ( TheStreet) -- Gold rallied a few dollars in early Far East trading, but that ended about 9:45 a.m. Hong Kong time. The price got turned over at that point, hitting its low tick minutes after 1 p.m. in Hong Kong---and from there it rallied in fits and starts to its 2:15 p.m. EST high tick. It got sold down into the 5:15 p.m. electronic close. It appeared, at least to me, that every rally attempt during the Tuesday session got capped before it could get too far, although the final sell-off appeared to have been dollar index related, as it happened to all the other precious metals, except palladium. The low and high ticks were reported by the CME Group as $1,145.50 and $1,172.50 in the December contract. The gold price closed in New York yesterday at $1,162.90 spot, up $11.30 on the day. Net volume was pretty decent once again at 155,000 contracts. The silver chart for the Tuesday session looked the same as the gold chart, except for the fact that the low price of the day came about 8:45 a.m. GMT in London. The low and high in this precious metal were recorded as $15.445 and $15.88 in the December contract. Silver finished the Tuesday session at $15.70 spot, up a whole 9 cents on the day but, like gold, would have obviously closed much higher than that if allowed to trade freely, which it obviously wasn't. Net volume was around 33,000 contracts. Platinum spent most of the Far East session in positive territory, but began to get sold off around 2:30 p.m. Hong Kong time, with the low of the day coming at noon in Zurich. After that it traded like gold and silver, with its high tick coming shortly after 2 p.m. EST as well. From there it got sold down hard---back to almost unchanged. Platinum was closed up a buck. As you can see from the chart below, palladium traded the same as platinum, with the only difference being that the high of the day came minutes after 12 o'clock noon in New York---and it traded almost ruler flat after that---finishing up 9 dollars on the day. The dollar index closed late on Monday afternoon in New York at 87.78---and after dipping a bit in mid-morning trading in Hong Kong, rallied to its 88.03 high shortly before 10 a.m. GMT in London. From that point it drifted quietly lower until the London p.m. gold fix---and from there headed lower in a much more dramatic fashion until 'gentle hands' appeared to rescue it at the 87.38 mark around 2:15 p.m. EST, which turned out to be the high tick in three of the four precious metals. From there it 'rallied'---and finished the Tuesday session at 87.59, which was down 19 basis points from its Monday close. Here's the 6-month U.S. Dollar index---and I'm still of the opinion that, looking at the RSI trace, this rally is pretty much done. Time will tell---and not too much I would think. The gold stocks gapped up a percent and change at the open yesterday---climbing to their high around 2:20 p.m. EST, before selling off a bit into the close. The HUI finished up 3.89% on the day. The silver equities follow a very similar pattern to the gold stocks, but Nick Laird's Intraday Silver Sentiment Index closed up 4.74%---and was up over 6 percent at one point. The CME Daily Delivery Report was another bust, as nothing was reported for delivery in either gold or silver tomorrow. The CME Preliminary Report for the Tuesday trading session showed that there were 29 gold contracts still open in the November contract, up 3 from Monday's report. Silver's November o.i. was down 12 contracts to 110. It was another day with a withdrawal from GLD. This time it was a more modest amount, as an authorized participant took out 28,832 troy ounces. And as of 8:59 p.m. EST yesterday evening, there were no reported changes in SLV. Just as a point of interest---since the end of October 538,228 troy ounces of gold have been withdrawn from GLD---and over the same period 514,335 troy ounces of silver have been added to SLV. Once again there was no updated short positions posted for either GLD or SLV by the good folks over at shortsqueeze.com. They're late. The folks over at Switzerland's Zürcher Kantonalbank updated their website early this morning with the latest data for their gold and silver ETFs as of November 7---and this is what they had to report. Both ETFs were down---gold by 39,131 troy ounces---and their silver ETF by 461,980 troy ounces. There was no sales report from the U.S. Mint. It was another quiet day over at the COMEX-approved depositories on Monday, as only 8,037 troy ounces of gold were reported received---and 2,668 ounces were shipped out. In silver, nothing was received---and a smallish 148,847 troy ounces were shipped out, with the deliveries split between three different warehouses. I'm happy to report that I don't have all that many stories for you today---and I hope you find the odd one of interest in the list below.
This is an abbreviated version of Iamgold Cuts Executive Team By 40% and Withdraws From World Gold Council, from Ed Steer's Gold & Silver Daily.Sign-up to have to the complete market review delivered to your email inbox each morning for free.