Gold closed down -9.40 to 1251.90 on moderate volume, while silver closed down -0.14 to 20.27 on moderate volume. The gold/silver ratio fell -0.05 to 61.75. After the big move yesterday, gold gently dropped throughout most of the trading day, with one rally attempt failing immediately prior to the NY open. Silver looked stronger and even made a new high of 20.48, but could not hold it into the close.
The dollar dropped once again, falling -0.08 [-0.11%] to 79.88, continuing its slow and steady slide, heading towards a retest of its 79 cycle low.