NEW YORK ( TheStreet) -- The gold price chopped around slightly above the unchanged mark until just after 1 p.m. in Hong Kong and then began to head lower, with the low tick coming minutes after 9 a.m. EDT. It rallied a bit going into the London p.m. gold 'fix'---and from there it didn't do a lot. The high and lows were reported by the CME Group as $1,212.40 and $1,200.80 in the June contract. Gold closed in New York yesterday at $1,206.80 spot, down an even three dollars from Wednesday's close. Net volume was very light at only 89,000 contracts. It was virtually the same price pattern in silver---and with the metal trading in a twenty cent range all of yesterday, the high and low ticks aren't worth the effort to look up. Silver finished the Thursday session at $17.13 spot, up 5.5 cents from Wednesday---and net volume was exceedingly light as well, only 19,500 contracts. Platinum chopped around unchanged all through Far East and most of Zurich trading, but began to head south shortly before 2 p.m. Zurich time. Like gold and silver, the low tick came a couple of minutes after 9 a.m. in New York. From there it rallied back to almost unchanged, closing at $1,154 spot, down a buck from Wednesday. Palladium chopped around five dollars either side of unchanged all day yesterday---and closed up 4 bucks at $779 spot. The dollar index closed late on Wednesday afternoon in New York at 95.59. It dropped 20 basis points in early Far East trading, but gained it all back---plus a few basis points more---by 2:30 p.m. Hong Kong time, and thirty minutes before the London open. From there it began to head south, with the 95.01 low tick coming minutes after 11 a.m. BST in London. But by shortly before 9 a.m. EDT, the index was back to 95.43---and after another 20 basis point up/down move, closed the Thursday session at 95.40---down 19 basis points on the day. The gold stocks opened flat, but headed into negative territory to stay by 10:20 a.m. EDT. Their lows came around 2:15 p.m.---and they struggled higher into the close. The HUI finished down 0.36 percent---it's fifth losing session in the last six trading days. The silver equities traded in a similar pattern---and almost managed to squeeze a positive close, but got sold back into the red about fifteen minutes before the equity markets closed. Nick Laird's Intraday Silver Sentiment Index closed down 0.25 percent. The CME Daily Delivery Report showed that zero gold and 30 silver contracts were posted for delivery within the COMEX-approved depositories on Monday. JPMorgan stopped 17 of them---8 for its client account and 9 for itself. The link to yesterday's Issuers and Stoppers Report is here. The CME Preliminary Report for the Thursday trading session showed that gold open interest for May fell 42 contracts, leaving 82 still open. Silver o.i. for May was unchanged at 289 contracts---less the 30 mentioned in the prior paragraph. There were no reported changes in GLD yesterday---and as of 9:33 p.m. EDT yesterday evening, there were no reported changes in SLV, either. Since yesterday was Thursday, Joshua Gibbons, the Guru of the SLV Bar List, updated his website with the goings-on at the iShares.com Internet site as of the close of business on Wednesday---and here is what he had to report. Analysis of the 20 May 2015 bar list---and comparison to the previous week's list: 5,519,099.8 troy ounces were removed (almost all from Brinks London)---787,993.3oz were added---and none had serial number changes. The bars removed were from: Henan Yuguang (1.7M oz), Inner Mongolia Qiankun (0.9M oz), Korea Zinc (0.6M oz), and 21 others. The bars added were from: Kazzinc (0.3M oz), Solar Applied Materials (0.2M oz), and 4 others. As of the time that the bar list was produced, it was overallocated 420.8oz. All daily changes are reflected on the bar list. After two days in a row of no sales, the U.S. Mint finally had something to say for itself. They reported selling 6,000 troy ounces of gold eagles---2,000 one-ounce 24K gold buffaloes---and 340,000 silver eagles. Over at the COMEX-approved depositories on Wednesday, there was hardly any gold activity worth mentioning, as only 500 troy ounces were received---and nothing was shipped out. It was virtually the same in silver. Nothing was received---and only 146,602 troy ounces were shipped out the door. It was another monster day over at the gold kilo warehouses in Hong Kong on their Wednesday. At Brink's, Inc. they reported receiving an eye-watering 24,015 kilobars---and shipped out an equally impressive 17,331 kilobars. There was a small deposit at the Malca-Amit Far East Ltd. depository, as they took in 220 kilobars. The link to all that activity, in troy ounces, is here. I have the usual number of stories for a week-day column---and I hope there are a few in here that you consider worth reading.
This is an abbreviated version of China’s Gold Purchases: Separating Facts From Speculation—Koos Jansen, 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.