Bidding Pattern

[billo]

Looking at Kitco, during the US day NY trade is bidding gold and silver up, but it falls steeply during the night in world trade. At the moment gold is $24 less than the NY close!

[stateofmind]

That is not a usual occurence. The reason it is falling is because the Euro is being devalued because of worries of failing economies in the Eurozone. This causes the dollar to rise which makes PM's fall.

[billo]

Interesting. Noticed a similar swing yesterday when the market closed/opened, but can't remember if it was in the same direction.

[stateofmind]

Silver shot up in Asia/Europe last night. Usually the US will follow Asia, either magnifying it or decreasing it. Which way we will go remains to be seen until the market opens.

[beauanderos]

I'm neither buying nor selling at this time, but watching with great interest. Wondering what precious metals are doing in the currencies which are weakening? Are they rising in euros? Often, the pricing volatility is magnified in after-hours action because trading is thin.