If Gold Is Just a ‘Pet Rock’ — Why Are Central Banks So Secretive About It?

(Before It's News)

by Ed Steer
Gold Seek

YESTERDAY in GOLD, SILVER, PLATINUM and PALLADIUM

The gold price traded sideways until 2 p.m Hong Kong time on their Friday—and then began to rally sharply. That got squashed starting minutes after the London open. It got hit again on the 8:30 a.m. job numbers, with the low tick of the day coming minutes after that. It chopped quietly higher until around 9:30 a.m.—and then it quickly tacked ten bucks onto the price, but ran into pretty formidable resistance after that as it attempted to take out the $1,100 spot mark. The powers-that-be were standing by at that point and threw whatever COMEX paper was necessary at the rally to make it go away—and from noon onwards, it traded flat for the remainder of the Friday session.

The low and high ticks were reported by the CME Group as $1,081.40 and $1,098.90 in the December contract.

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