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This was an up and down week for posts affecting commodities but left precious metal trending falling off. Values ended the week in the red. This past week for the stock market was relatively negative and the week finished out as one of the worst in three months. Gold price per ounce fell. Silver price per ounce fell and copper price per ounce fell. More specifically, gold contract for December delivery ended the session with a floor price of $1,365.50 an ounce. Silver contract for December delivery ended the session with a floor price of $25.94 an ounce. Copper contract for December delivery ended the session with a floor price of $3.89 an ounce. Analysts contend that news stemming relevant to China’s economy is spooking investors and caused a sell off and thus ended the session negatively. The G-20 summit in Seoul ended yesterday and leaders of the world's major economies would not unify to support the U.S. led efforts to get China to let its currency rise. President Obama, along with a contingent of currency and trade experts, believe that China has an unfair trade advantage due to the exchange rate value of its currency. The current low value of the yuan makes it cheaper for nations to export out of China. Speculation over an interest rate hike to cool down China's fast growing economy had a negative affect on the index value trending during the U.S. trading session to end the week and this speculation also took its toll on commodity values. Author: Camillo Zucari
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