A COT Report Certainly Worth Framing

October 09, 2023

by Ed Steer Silver Seek

The gold price wandered quietly and unevenly higher in GLOBEX trading overseas on Friday — and that lasted until around 12:25 p.m. China Standard Time on their Friday afternoon. It then had a down/up move that ended around 11:15 a.m. in London. It was sold a bit lower from there until the jobs number hit the tape at 8:30 a.m. in New York — and gold’s low tick of the day was set about fifteen minutes later. Then away it went to the upside…running into ‘something’ twice during its rally, which was capped at 11:30 a.m. EDT in COMEX trading. It had two down/up moves after that…neither of which was allowed above its 11:50 a.m. high tick.

The low and high ticks, both of which were set in COMEX trading in New York, were reported as $1,823.50 and $1,849.00 in the December contract. The October/December price spread differential in gold was $15.00…December/ February was $19.20…February/April was $18.50 — and April/June was $18.70 an ounce.