Gold price per ounce was down at last trade but Silver and copper were up.
Prior to opening bell of the U.S. trading session for November 223nd, 2010, the
dollar is struggling. Precious metal commodities dipped a bit last week but are
expected to bounce back. Confusion persists right now as commodities dipped
based on oversees concerns with Irelands long term debt problems and Chinas
interest rate hikes aimed at cooling off the fast pace of their growing economy.
Experts are predicting that the dollar will remain lower into the next year as
the Fed pumps money into the economy through QE2. The traditional relationship
between the dollar and precious metal commodities is an inverse one and thus the
lower dollar value is expected to boost commodity prices. Recent precious metal
data reveals that spot gold price is at $1,356.89. Spot silver is at $27.45.
Overall in 2010, Gold has jumped 23%. Analysts believe that the price jump
overall stems from oversees demand, but the message out of China right now is
indirectly negative. The move to slow down their economy will be interpreted as
an inflation reducing event and increase apprehensions about investing in
precious metals right now. Last trading price for Gold December delivery
contract was in the red by .05% at $1,352.30. Silver was in the green by 1.29%
at $27.18. Copper was up as well by.07% at $3.83. Author: Camillo Zucari
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