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Gold for December delivery price per ounce moved ahead, as did Silver for December delivery price per ounce. Both precious metals were trending green as of last trade of the market session in the U.S. on the 23rd. The overall market fell yesterday and stayed in the red through end of day close. The primary slump stemmed from overseas news that North Korean and South Korean forces clashed. This was in addition to the already mounting apprehensions related to the European financial instability problems. Gold and Silver did rally under these conditions due to investors looking to attain position in safe havens. The dollar took off as well. Since the initiation of QE2, many expected the dollar to lose strength, but that has not been the primary case. One reason is due to the revised gross domestic policy report posting better than expected growth in the American economy in the third quarter. Even with the dollar gaining strength, Gold and Silver are growing in popularity due to the overseas volatility. Gold for December delivery moved higher by 1.46% and settled at $1,377.60 price per ounce. Silver moved higher by .40% and settled at $27.57 price per ounce yesterday. Gold is holding onto gains in world market trading and is expected to maintain levels during the U.S. session today. The dollar is expected to retain its relative strength and although the yellow metal and the greenback do not normally parallel trend, recent posts show gold holding steady at $1,375.99 an ounce. U.S gold futures did dip .2% to $1,375.80. Author: Camillo Zucari
Current Gold, Silver Price Per Ounce; December Delivery Contracts; Notes November 24th, 2010
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