dow2664
Gold, silver and copper price per oune rates moved forward today. Overall, the market had a change of fortunes and reversed much of the negative closing action from last week. Index values received a boost earlier this day and mainly positive trending early was buoyed by the positive retail sales report posting from the Commerce Department. Also, news stemming from world markets helped keep market action in check today and ultimately, precious metal commodities went up. European stocks were on the rise today as Ireland’s government said it is not seeking a bailout. This statement reduced fears that the country would default on its debt. The dollar was moving up today against a basket of other currencies. Specifically, the dollar strengthened against the euro, the British pound and the Japanese yen. Commodities moved back up and precious metals gained some value through today’s trading session. Gold for December delivery moved up .22% today and at the U.S. session end was trading for $1,368.50. Silver for December delivery moved up .58% and was trading for $26.09. Copper December delivery contract price per ounce was up by .81% at $3.92. Gold traffic and precious metal traffic has been less than expected since the Fed’s initiated their QE2 plan. The dollar was expected to devalue but world currency concerns in Europe are helping the dollar stay afloat. Now, there is talk from the Republican power pushing Bernanke to drop the QE2 plan altogether. As of today however, gold, silver and copper price per ounce stays green. Author: Camillo Zucari
No comments:
Post a Comment