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Contract gold, silver, platinum and copper fell lower yesterday. As of end of day close, the precious metal tracking board was covered in a hue of red as stock index composites reveled in their noteworthy ascent for the day. As is often the case, natural fluctuation eventually takes hold of a sector and the tides turn. The tide turned for safe haven assets yesterday and trending fell lower on the day. April contract gold dropped lower by 21.30. March contract silver fell by .51. April contract platinum dropped 26.30 on the day as well. Investors felt confident enough to leave less risky metals behind and move into stocks. Stocks benefited from several sources of positive economic news during yesterday session. The Labor Department led the way by reporting that less Americans had filed for first time unemployment benefits in February. The dollar gained on a basket of other currencies and gold and silver suffered. After session values, for spot gold and silver, continued to post in the red. Spot gold per kilo was red by 633.37 at 45573.68. Spot gold per gram was lower by .63 at 45.57. Spot silver per ounce was red by .45 at 34.38 and spot silver per kilo was red by 14.47 at 1105.18. Precious metals ran inversely to market trending and projections appear to point towards similar trending as the week closes. Author: Camillo Zucari
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