Floor price for precious metals ended last session trending green. Gold for
February delivery was up by 1.10%. Silver for March delivery was green by 1.39%.
Platinum for April delivery was green by 1.65% and Copper for March delivery was
green by 1.94%. The Safe Haven assets were a popular area to position money as
the market fluctuated and the dollar value was more volatile and left investors
feeling less comfortable. Gold for February delivery floor price ended at
$1,421.40 an ounce. Silver for March contract delivery ended the session at
$30.94 an ounce. Platinum ended the session at $1,778.20 an ounce for April
contract delivery. Copper ended at $4.45 per pound for March contract delivery.
Trending was on the positive side for precious metal commodities due to recent
economic concerns and the past devaluation of the dollar. Investors are
optimistic though that the market will gain strength and continue to recover,
possibly at a faster pace. This will be an interesting and important week in the
market that will set the tone for composite index trending, but also precious
metal commodity trend-lines. Gold had a good year last year and safe haven
investors are hoping to see these trends continue in 2011. The dollar index is
moving higher for the first time in days and as precious metals typically move
inversely to the dollar, precious metal investors will be watching closely to
decipher movement. Author: Camillo Zucari
No comments:
Post a Comment