NEW YORK ( TheStreet) -- The gold price chopped quietly lower in Far East trading on their Tuesday---and the HFT boyz and their algorithms/spoofing showed up around 2:15 p.m. Hong Kong time. Once they were done, the price drifted quietly lower until the London morning gold fix was done at 10:30 a.m. BST. It rallied a hair into the COMEX open, but JPMorgan et al were laying in wait once again---and within thirty-five minutes had gold down another ten bucks to its low tick of the day. The gold price didn't do much after that. The high and low ticks were reported by the CME Group as $1,108.20 and $1,184.80 in the June contract. Gold closed on Tuesday in New York at $1,187.80 spot, down $18.10 from Monday's close. Not surprisingly, gross volume was sky-high at 345,000 contracts, but it only netted out to about 142,000 contracts. And once you take out the 21,000 net contracts from Monday, net volume yesterday wasn't overly heavy at 121,000 contracts. On a $20 engineered price decline, that's not a lot. I'll have more on this in The Wrap. Here's the 5-minute gold tick chart courtesy of Brad Robertson. Note the lack of volume on the engineered price decline in Hong Kong vs. the volume on the engineered price decline at the COMEX open. The grey line is midnight EDT---and you need to add two hours to this chart for EDT, as it's scaled for Denver time. The ' click to enlarge' feature is a must. "Da boyz" laid the same lumber on silver---and the only real difference was that the metal rallied sharply off its 9 a.m. EDT low---and that was summarily dealt with. From around 12:30 onward it traded pretty flat. The high and low tick in that precious metal was recorded as $17.18 and $16.645 in the July contract. Silver finished the Tuesday session at $16.72 spot, down 35.5 cents from Monday's close. Net volume was pretty decent at 45,000 contracts. Platinum got hammered as well---and in the same way---closing at $1,123 spot, down 25 bucks on the day. Palladium was also affected, but mostly as an afterthought, as it closed down 8 dollars at $778 spot. The dollar index closed late on Monday afternoon in New York at 96.37---and began to rally almost the moment that trading began in the Far East on the their Tuesday morning. It was above by the 97.00 mark by the London open---and dipped to 96.82 at exactly 8:00 a.m. EDT. From there it rallied up to about 97.35 just after 3 p.m. before sliding a bit into the close. The dollar index closed on Tuesday at 97.22---which was up 85 basis points on the day. Here's the 2-day chart so you can see the complete move over the last twenty-four hours. Here's the 6-month dollar chart so you can see the progress of this counter-trend rally. The gold stocks gapped down over 2 percent at the open---and never looked back. The low tick came around 1:45 p.m. in New York---and they barely crawled off the floor after that, as the HUI closed down 3.71 percent. The silver equities turned in a very similar performance---right down to the timing of the low tick. Nick Laird's Intraday Silver Sentiment Index closed down 3.80 percent. The CME Daily Delivery Report showed that only 1 gold and 66 silver contracts were posted for delivery on Thursday. The big short/issuer in silver was the Japanese bank Mizuho. HSBC USA stopped 23 contracts---and JPMorgan stopped 38 contracts---15 for clients, and 23 for its own account. The link to yesterday's Issuers and Stoppers Report is here. The CME Preliminary Report for the Tuesday trading session showed that gold open interest in May dropped another 6 contracts, leaving 76 open---minus 1 whole contract mentioned in the previous paragraph. Silver May o.i. fell by 35 contracts down to 254---minus the 66 above. As I mentioned in yesterday's column, I was expecting all the remaining May open interest to be posted for delivery in the above Preliminary Report, but they weren't. That leaves the rest to be delivered on Friday---First Notice Day---and one way or another May's remaining open interest in gold and silver has to be zero in tomorrow's report. They have to be delivered into---or sold. There are no other options. So we wait. There was movement in both GLD and SLV yesterday. In GLD, an authorized participant deposited a tiny 19,181 troy ounces. In SLV an authorized participant withdrew 1,003,544 troy ounces. There was no sales report from the U.S. Mint yesterday---and that was a bit of a surprise. It appears that Ted was right. JPMorgan, the big buyer, has stepped away from the table this month, probably for the same reason they did last year---and that was because they knew they were about to hammer the silver price into the dirt, so why buy expensive when you can buy cheaper later at a price they set themselves. What a racket! Of course the other reason Ted gave was that they may have stopped buying silver eagles altogether, but that fact won't be knowable for months, either. So we wait. There was little in/out activity in gold at the COMEX-approved depositories on Monday---3,500 troy ounces in---and 101 troy ounces out. There was little activity in silver either, as only 19,496 ounce were received---and 5,192 shipped out the door. Over at the COMEX-approved gold kilo depositories in Hong Kong on their Monday, they received 1,866 kilobars and shipped out 3,977 kilobars. All of the activity was at the Brink's, Inc. warehouse---and the link to that action, in troy ounces, is here. I don't have all that many stories again today---and I'll leave the final edit up to you.