‘Dorothy’s silver shoes or the re-monetization of the silver currency of the United States of America’ – Discurso de Hugo Salinas Price en la Conferencia del GATA ‘Gold Rush 2011′, celebrada en Londres el 6 de Agosto 2011.
Due to a sharp fall in USD/JPY overnight, Tokyo market opened with goodselling interest. However gold managed to hold above $670 and closed thesession where it opened.
Due to long liquidation gold lost $3 after the close of NY on Tuesday,opening in Asia on a weak note. Then the sharp drop in USD/JPY forcedprices down to the $660 support during the afternoon session and Tocomclosed on the lower side of the intraday range.
Gold climbed $1.5 higher during the electronic trading last night,opening in the Far East at $666. But soon traders liquidated their longs,forcing prices down to $665.60 per ounce where Tocom closed.
There was no interest in the market overnight and prices hovered within adollar range during the entire session. In Europe gold struggled to hold the $675 and selling interest forced the metal down to the $670 support.
Tocom gold trading session was dull with prices confined to a very narrow range. Spot reached the high of the day before lunch time and then retreated in the afternoon to close where it opened.
Tocom liquidation took gold slightly lower overnight, but large bid emerged in the afternoon and enabled the metal to close on a firmer note. In Europe prices remained stagnant for the entire morning session,which contrasted with the amazing afternoon session that we had.
Gold remained hovering around Wednesday’s closing levels of $672-$673.During our time zone the metal had no clear direction and failed to breach the $674 level. Spot fixed at $673 an ounce on the first London fix, up $5.25 from the previous AM one.
Gold was bid throughout the Tocom session and ended the day 2 dollars higher. The precious metal continued to climb during our time zone and hit the high of $668.80 before easing to fix at 667.75 on the first London fix.
Gold was little active overnight, trading in a narrow $1 range. Gold slipped slowly throughout the Asian session and closed on the lows. Selling persisted in Europe with dealer avoiding big moves ahead ofBernanke Testimony and inflation data.
