dow2664
Gold and Silver for December delivery gained today as the market fluctuated with a mixed bag of economic and company reports. Stocks finished mixed today and values are expected to follow an up and down trend as we approach the November meeting where the Feds will discuss the intensity and duration of the quantitative easing plan that has been talked about now for quite some time in the U.S. The dollar fell today against the euro, Japanese yen and the British pound. The currency market is especially volatile right now due to the anticipated changes stemming from the central bank’s new round of asset purchases. Basically, this stimulus program is one which has the federal government prniting a large quantity of money to pay for the long term bonds it plans on purchasing. This mass printing of money in the U.S. is not a positive thing for the dollar. It will devalue the dollar further and do nothing to stop the current downward drift that the dollar is currency experiencing. As is the normal pattern of behavior, when the dollar struggles, precious metal commodities increase trading value. Gold for December delivery is on the rise and end of day marks for this precious metal are up 1.5% at $1,342.5 per ounce. Silver for December delivery is on the rise as well and is up 2.01%. Silver is currently trading at $23.88 per ounce. Author: Camillo Zucari
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