Gold closed down by $4.40 to 1244.50 by 1:30 pm Friday afternoon, the official close for gold. It did trade in the access market
where it finished the day at 1246.70. Silver finished down 1 cent to 19.91 in regular trading and 19.88 in the access market.
The cartel banks were intent on keeping gold below the 1260.00 mark and silver below 20.00 on Friday. The metals were whacked
early but strong physical demand erased early losses. Silver was especially strong as at one point it climbed above $20.00.
The bankers were not amused and they went to work keeping both precious metal price rises in containment. The bankers got a
little help in that Friday was a Moslem holiday.
The comex gold open interest fell by 6619 contracts to 580,541.Some of the speculators fearing a raid lessened some of their long positions.
The silver comex open interest however continued its drive as again it rose to the tune of 300 contracts to rest this weekend at 140,514
After the markets closed, the CFTC released the committment of traders report and everybody did what was expected,
First, the gold COT report: