NEW YORK (TheStreet) —
The gold price developed a slight positive bias early in Far East trading, topping out shortly after London opened on their Wednesday morning. From that point it drifted quietly lower, before getting sold down five bucks beginning at the Comex open in New York. Minutes before 2 p.m. EDT, the price was up about three bucks off its interim 8:50 a.m. EDT low—and at 2 p.m. on the dot, the “Buy the dollar index/hit the precious metals” button was pushed—and that was it for the day in all four precious metals, with gold [not surprisingly] getting hit the hardest. The gold price finished about three bucks and change off its 3:35 p.m. EDT low tick.
The high and low were reported by the CME Group as $1,230.40 and $1,208.20 in the December contract.
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