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
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