Home based economic reports in the U.S. were not very positive during the last
trading session. The major indices ended in the red, and floor prices for
contract gold and silver ended this way as well. Regarding the economic reports,
primary attention was given to the Conference Boards Consumer Confidence Index
which came in lower due, in part, to the rising cost of gasoline and also the
Home Price Index which revealed that home prices fell overall for the seventh
straight month in a row. Gold and silver contracts did not gain however. Floor
price for April contract gold moved lower by 3.70 to 1416.20. Floor price for
May contract silver moved lower by .101 to 36.99. The Stock market is still open
and vulnerable to the overseas developments and to negative home based reports
like the ones posting throughout yesterdays session. Safe haven appeal has
diminished however as investors keep stocks aloft. Spot gold trending after open
session trading hours on Tuesday revealed that spot gold per kilo and per gram
was moving lower. Spot silver per kilo and per ounce was moving higher. Spot
gold per kilo was red by 244.99 at 45608.41. Spot gold per gram was red by .24
at 45.61. Spot silver per ounce was green by .09 at 37.14 and spot silver per
kilo was green by 2.99 at 1194.08. Author: Camillo Zucari
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