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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 Ireland’s long term debt problems and China’s 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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