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The dollar firmed up a bit during overnight trading and strengthened against a basket of currencies. Now that we have moved past the G20 meeting over the weekend, investors begin to focus their eyes forward towards the next move by the Federal Reserve. The price per ounce for gold continues to stay high although it did come back some to $1,334.60 an ounce for December delivery. The small loss is due, in part, to the dollars swing towards higher ground. It appears that the question right now relates to monetary easing. Fed chairman Ben Bernanke commented on the state of the economic recovery and relayed that the central bank "has a case for further action", implying that federal intervention is right around the corner. Investors are waiting on a speech that U.S. Federal Reserve Chairman Ben Bernanke will give to extrapolate implications for timing and extent of the anticipated monetary easing. Many investors are starting to worry that they may have overestimated the amount of support that will need to be provided by the Feds. Commodities will also be affected today by reports of consumer confidence and home prices. Gold futures remain in the green and last trade was $1,338.90 per ounce. Silver is $23.54 per ounce and also trending green right now for October 26th, 2010. Author: Camillo Zucari
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