Silver and gold equities close higher. Another withdrawal from GLD---and a decent deposit in SLV. Another sales report from the U.S. Mint. A goodly amount of in/out movement in gold at the COMEX-approved depositories on Monday, but not much action in silver.
NEW YORK ( TheStreet) -- The gold price didn't do much in Far East or early London trading on their Tuesday. The low came at, or close to, the 10:30 a.m. BST London a.m. gold fix---and it rallied quietly and unsteadily until the 1:30 p.m. COMEX close. From that point, it sold off a hair into the close of electronic trading at 5:15 p.m. EDT. The low and high ticks are barely worth looking up, but the CME Group recorded them as $1,185.80 and $1,196.40 in the August contract. Gold finished the trading day in New York yesterday at $1,192.70 spot, up only $3.90, which was a disappointment, because the dollar got taken out to the woodshed and had the hell beat out of it. I'll have more on that later. Net gold volume wasn't overly heavy at 106,000 contracts. The silver price action was pretty much the same as gold's, with the only real difference being that silver's low came either around 11 a.m. in London, or shortly before 9 a.m. in New York. You can decide for yourself from the Kitco chart below, but in the grand scheme of things, it doesn't really matter. Silver traded in a 20 cent range all day Tuesday---and the highs and lows definitely aren't worth my effort to look up. Silver closed yesterday at $16.745 spot, up 4 cents from Monday---and Monday's gain was only 0.5 cents after "da boyz" were through with it. In the face of a crashing dollar index, I'm underwhelmed. Net silver volume was 33,000 contracts.