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This week was filled with news that moved the stock market. Gold responded to the news as well and is on the move. The yellow metal hit a nice surge yesterday and the results were positively stimulating. The Federal Reserve’s move to support the economy through a process of quantitative easing is pushing commodity value trends into the upper tiers of the stock market. Yesterday at mid-day, the dollar had fallen against the euro, the British pound and the Japanese yen. As expected, gold swung in a positive direction as gold for December delivery surged to $1,378.70 an ounce. This trending continued through end of day close. The dollar showed this same pattern at end of day close and gold moved ahead further. Gold for December delivery price per ounce settled up $45.50 or 3.4% to a record of $1,383.10. Currently, the momentum that closed out the day with positive gains yesterday in the stock market is not carrying over for stock futures before opening bell today. The Dow, Nasdaq and S&P 500 are lower ahead of opening bell for November 5th, 2010. World markets are mixed but Gold is expected to start the day in the green. Current 24 hour spot gold tracking reveals a value of $1385 right now. Gold prices are coming off of a fresh record yesterday and the expectation is that excess liquidity will depreciate the dollar further which is normally an inverse relative to gold and commodity values. Author: Camillo Zucari
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