Gold & Silver Daily: Pool Accounts: Why You Should Get Physical Gold – Mar 12, 2010

Pool Accounts: Why You Should 'Get Physical' Instead I wouldn't read a thing into Thursday's trading activity in the gold market anywhere on planet earth yesterday. The high of the day, if you wish to dignify it with that name, occurred shortly before 10:00 a.m. in Hong Kong yesterday morning. The price was around $1,112 spot. There were some reasonably wild gyrations in the gold price starting at 8:30 a.m. in New York... but, if you check the dollar chart further down, you'll see that this action was almost entirely dollar related. Gold's low for Thursday [$1,099.50 spot] was at the London p.m. gold fix which occurred around 10:00 a.m. Eastern time [3:00 p.m. in London]. Then, from the London p.m. fix onward, gold gained back about $10 as the dollar drifted gently lower. Silver's price action yesterday was a bit more interesting... but only a bit. Silver drifted lower as trading began in the Far East on Thursday morning... and its low of the day [aro...