The gold price hit its Far East low around 2:30 p.m. Hong Kong time Tuesday afternoon...with the high of the day coming at 12:00 noon in London...right on the button.

The pop in the gold price just before the London open yesterday morning was pretty much all the excitement there was on Tuesday.

Bullion banks get Financial Times help in trying to talk silver down.

The gold price was under pressure pretty much through the entire Far East and London trading session on Thursday, with the low of the day coming shortly after the Comex open at $1,350.50 spot.

After Tuesday's excitement, there isn't much to report regarding Wednesday's gold trading day. Gold's New York high of $1,368.20 spot was at 10:20 a.m...which was immediately followed by gold's new York low [$1,357.20 spot] at precisely 11:30 a.m. Eastern. The gold price recovered from that...and closed virutally unchanged from Tuesday.

It was a pretty quiet day in Far East trading in the gold market on Tuesday. There was a bit of a pop shortly before London opened, but that got sold off the moment that the London a.m. gold fix was in at 10:30 a.m. GMT in London...5:30 a.m. Eastern time.

There wasn't much action in the gold price yesterday and, considering the volume [which was unbelievably light], I'm not entirely surprised. I wouldn't read a thing into this price action...except that the New York low spot price was at the London p.m. gold fix at 10:00 a.m. Eastern...3:00 p.m. GMT in London.

Well, it's pretty obvious, at least to me...that neither gold nor silver was going to be allowed to go anywhere during the Wednesday trading day.

Gold rose quietly all through Far East and early London trading yesterday...and about twenty minutes before the Comex opened, a more substantial rally began that ran into some serious resistance as it approached its 50-day moving average.

With the Martin Luther King holiday in the U.S. yesterday...there wasn't much price excitement in gold...and the Comex closed early at 1:15 p.m. Eastern.

Thursday's trading activity was another one of those days that made no sense whatsoever, or at least no sense in free-market terms.

The gold price didn't do a lot yesterday, pricewise. It gained five bucks by 11:00 a.m. Monday morning Hong Kong time...and stayed there until 3:00 p.m...before sliding into the New York open. A sharp rally commenced...that ran into equally sharp selling...with gold's low [$1,364.60 spot] coming at the London p.m. gold fix...which was 10:00 a.m. in New York...right on the button! From there, gold climbed to its high of the day, which was $1,377.30 spot, which came at the close of trading at 5:15 p.m. Eastern time. Not much to see here, but it was gold's first positive day of the new year.