Gold and Silver for December delivery are moving higher. Gold moved forward
during yesterdays trading session in the U.S. as did Silver. Gold for December
delivery moved up .41% and last floor trade settled at $1,357.80 per ounce.
Silver for December delivery moved ahead 1.04% yesterday and the last floor
trade posted at $27.46 per ounce. Copper for December delivery fell off a bit as
it dipped into the red by 2.14% and finished the day at $3.75 per ounce.
Apprehensions stemming from the Euro sector financial instability are helping to
keep gold and silver popular as safe haven assets. Concerns over the European
financial crisis are growing and fueled the discontent as investors positioned
more money into gold and silver precious metals. Ireland recently acknowledged
its financial problems and accepted financial "bailout" aid from the
European union and International Monetary Fund. Now, speculation is spreading
that other countries that utilize the euro might need additional assistance as
well. The euro is struggling right now and generalized fears regarding currency
instability is pushing gold and silver ahead. Spot gold fell just lower by .4%
however and settled at $1,361.35, and U.S. gold futures gained .2% to $1,361.2
an ounce. Gold and silver should gain moderate strength due to the worries that
will likely persist over the eurozone economies. Author: Camillo Zucari
No comments:
Post a Comment