It will be interesting to hear what “Helicopter” Ben has to say for himself…and how the precious metal markets will react, or be allowed to react.As has been the case for some time now, the gold price didn’t do a lot during the Far East trading session on Tuesday…and was down about four dollars when London opened at 8:00 a.m. BST. From the open, the gold price rallied slowly but surely…and spiked right at the London p.m. gold fix. From that spike high of the day [$1,650.50 spot] the gold price then got sold down immediately…and from noon onwards in New York, gold traded flat into the close of electronic trading at 5:15 p.m. Eastern time.Gold closed at $1,641.50 spot…down $3.20 on the day. Net volume was very light…around 98,000 contracts.Silver’s price path was pretty much the same as gold’s…except for the fact that the sell off after the London p.m. gold fix took the silver price down into negative territory on the day. The high price tick was $31.25 spot.Silver closed at $30.83 spot…down 4 cents from Monday’s close…and well off its spike high price at the fix. Gross volume was monstrous, but once all the spreads/roll-overs out of the May contract were subtracted, the volume dropped down to a net 22,000 contracts, which is very light.The dollar index opened around the 79.35 mark in early morning trading in the Far East…and struggled to maintain that right up until minutes before 9:00 a.m. in New York. Then, in the space of an hour, the dollar index fell 25 basis points…with its low price tick coming at precisely 10:00 a.m. in New York. Gold and silver’s high tick of the day came about ten minutes after that.From there, the dollar index gained back a bit of its decline in rather erratic fashion…and finished down about 15 basis points on the day.The gold stocks didn’t rally much going into the London p.m. gold fix…and quickly got sold off after that. From there they chopped around the unchanged mark for the rest of the Wednesday trading day…and the HUI finished flat, showing no change…0.00%…on the day.The silver stocks finished mixed…and Nick Laird’s Silver Sentiment Index closed up/down a tiny 0.41%.(Click on image to enlarge)The CME Daily Delivery Report was another quiet one…as it will probably be for the rest of the April delivery month…as only 25 gold and 16 silver contracts were posted for delivery on Thursday.There were no reported changes in either GLD or SLV…and the U.S. Mint didn’t have a sales report, either.The Zürcher Kantonalbank had an updated report on their gold and silver ETFs at the end of trading last Friday. Their gold ETF showed a small decline of 2,586 troy ounces…and their silver ETF showed a decline of only 62,761 ounces.Monday was pretty quiet over at the Comex-approved depositories as well. They reported receiving only 38,009 troy ounces of silver…and shipped 3,002 ounces out the door.I have the usual number of stories for a mid-week column…and I hope you have time to go through all of them.The entire world economy rests on the consumer; if he ever stops spending money he doesn’t have on things he doesn’t need, we’re done for. – Bill BonnerWith volume being as low as it was yesterday, I wouldn’t read too much into Tuesday’s price action in either gold or silver. But it’s tempting to fantasize how high both silver and gold would have risen if both metals hadn’t run into a willing seller once the London gold ‘fix’ was in at 10:00 a.m. New York time.Yesterday, at the close of Comex trading at 1:30 p.m. Eastern time, was the cut-off for this Friday’s Commitment of Traders Report. All of Monday’s price action in both gold…and particularly in silver…will be in this report. Both Ted and I were speculating about how much of an improvement we would see in the Commercial net short position in silver…and if JPMorgan et al were able to trick a bunch of the technical funds into going short during Monday’s engineered price decline in that metal. In two days we’ll have our answer.Far East price action on their Wednesday was absolutely dead. Volumes were the lowest that I’ve ever seen in all my years of watching the overnight markets. Gold volume, up until the London open, was under 7,000 contracts…and silver’s net volume was still well under 800 contracts thirty minutes after trading began in London! I would guess they would be record low volumes. And as I hit the send button on today’s missive at 5:17 a.m. Eastern time, I note that neither gold nor silver are doing much price-wise. Although trading volumes have picked up substantially in both metals, they’re still incredibly light.It’s eerily quiet out there…and I’m not exactly sure what to make of it…and I certainly have no idea which way prices are going to go from here. But if I was forced to bet ten bucks, I’d say that we saw the lows for both gold and silver during the Comex session on Monday. And as I said yesterday, I wouldn’t bet the ranch on it, as a ten spot is all I would care to lose if I’m wrong.If we do go lower from here, it will have nothing to do with what’s happening in the real world of supply and demand…or the current goings-on in the fiat currency world…it will all have to do with the what ‘da boyz’ are up to. That’s the long and the short of it.Today is the last day of the FOMC meeting…and it will be interesting to hear what “Helicopter” Ben has to say for himself…and how the precious metal markets will react, or be allowed to react to whatever he says. So I await the Comex trading session in New York today with special interest.Before I close, I would like to remind you one last time that, starting on Friday, Casey’s spring summit…“Recovery Reality Check”…will be held in Florida. If you’re not registered to attend, you may want to purchase the complete audio collection (available in a 20-CD set and/or MP3 downloads) so you can listen at home. The faculty presenting includes David Stockman, director of the Office of Management and Budget under President Reagan; resource investing legend Rick Rule; Casey Research Chairman Doug Casey; Harry Dent, best-selling author of The Crash Ahead; Lacy Hunt, executive VP of Hoisington Investment Management…and 26 other financial luminaries. And they are telling me if you order before the show starts on April 27th…you’ll save $100. To learn more about the 31 financial experts and what they are presenting, you can click here…and it costs nothing to check it out.See you on Thursday. 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