NEW YORK ( TheStreet) -- After opening with a positive bias in New York at 6 p.m. on Sunday evening, the HFT boyz and their algorithms showed up at 9 a.m. Hong Kong time. From there it traded flat before rallying a hair going into the London open. Then it was all down hill until 8:30 a.m. EST in New York. The subsequent rally ended at noon---and then JPMorgan et al had their way with the gold price for the remainder of the COMEX and electronic trading session. The high and low ticks were recorded by the CME Group as $1,225.00 and $1,191.30 in the February contract. Gold finished the Monday session in New York at $1,193.50 spot---down $28.30 from Friday's close. Considering the price action, the associated volume wasn't as big as I would have expected---156,000 contracts, net of December and January. Here's the 5-minute gold chart courtesy of Brad Robertson. The charts starts at 2:00 a.m. MST, to which you have to add 2 hours for EST. The lack of really big volume on the engineered price declines is very evident here. The silver price wasn't spared by the HFT traders in Hong Kong trading, either---and after that, the price didn't do much of anything until noon in New York---and 'da boyz' really put the lumber to the price starting at 12:40 p.m. EST. The bloodshed ended at exactly 3:30 p.m. in electronic trading. After that it traded flat in the 5:15 p.m. close. The high and lows recorded as $17.08 and $16.135 in the March contract. Silver finished the day at $16.185 spot, down 85 cents from Friday's close. Net volume was only 44,500 contracts. The platinum chart was a mini version of the gold chart, with the high of the day coming just before Zurich opened on Monday morning. After that it chopped lower, closing on its low tick of the day---$1,199 spot, which was down 26 bucks from Friday. Palladium's rally attempt at the 6 p.m. EST open on Sunday evening didn't get far---and after that it chopped around the $810 mark until about 1:30 p.m. in Zurich---and down it went from there---probably with a little help. Palladium closed at $796 spot---down $16 on the day---and almost on its low tick. The dollar index finished the week last Friday at 88.335---and didn't do much on Monday. It dipped as low as 88.19 about 3:20 p.m. Hong Kong time---and its 88.61 high came at 11 a.m. EST, which was the close of the precious metal markets in London on their Monday afternoon. At that point it had a two hour long 30 plus point down/up dip---and then didn't do much after that. The index finished the Monday session at 88.43---up 10 basis points. The gold stocks opened down a bit, but then chopped around either side of unchanged until 12:20 p.m.---which was when the HFT boyz and their algorithms showed up. Then the stock cratered---and didn't stop until 3:30 p.m.---and traded sideways from there into the close. The HUI chart was painful to look at, as it closed down a whopping 7.01%. The silver equities appeared to be trading on some other planet, because at one point they were up 4 percent. Then 'da boyz' appeared shortly after noon EST---and even then the silver equities stayed in positive territory until they rolled over with a vengeance starting at 2 p.m. EST, with their low tick also coming at 3:30 p.m. Nick Laird's Intraday Silver Sentiment Index closed down 'only' 4.33%. The CME Daily Delivery Report showed that zero gold and 5 silver contracts were posted for delivery within the COMEX-approved depositories on Wednesday. Nothing to see here. The CME Preliminary Report for the Monday trading session showed that gold open interest for December declined to 803 contracts, down 78 contracts from Friday's report. In silver, the December open interest is now down to 195 contracts, which was a drop of 188 contracts from last Friday. There was a withdrawal from GLD yesterday. This time an authorized participant took out 76,859 troy ounces. And as of 8:31 p.m. EST yesterday evening, there were no reported changes in SLV. Much to my surprise, the U.S. Mint had another silver eagles sales report. This time it was only 84,500 of them, but I was still amazed to see it nonetheless. Maybe yesterday was the last day for 2014 sales. Once again there was no gold of any type reported sold by the mint. Over at the COMEX-approved depositories on Friday, there wasn't much action in gold, as only 16,075 troy ounces were reported received---and 2 kilobars were shipped out. The link to that activity is here. In silver, nothing was received---and 850,525 troy ounces were shipped out. The link to that action is here. Here's a chart that Nick Laird passed around yesterday. It's the price of gold in Russian roubles for the last 30 days---and as you can tell, it protects against currency debasement very well. I have a pretty decent number of stories for you today---and there should be some in the list below that you'll find worth reading.
This is an abbreviated version of Indian Gold Imports in November Close to 150 Tonnes, 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.