by Peter Schiff, Schiff Gold:
Gold and silver drifted lower this week before a modest recovery Friday morning, which can be put down to bear closing. Meanwhile, gold hit record levels in yuan and yen terms.
Here’s a breakdown of this week’s gold and silver markets.
In European trading this morning, gold was $1918, unchanged from last Friday’s close after testing the $1900 level yesterday. Silver was $23.05, down 3 cents, after testing $22.30. Comex volumes in gold were moderately healthy, and they picked up in silver yesterday on the sell-off.