Stock market action had a pessimistic feel to it today. Gold and Silver often
trend higher as investors process negative economic reports. Today, negative
reports stemmed from home based news as well as negative reports coming in from
overseas markets. The glass was half full in the market today as economic
reports tended to post on the negative side and index composite trending
maneuvered in the red for a majority of the trading session. In the midst of the
economic reports today, the dollar was gaining strength versus the euro, the
Japanese yen and the British pound. Gold futures were trending lower today and
electronic rates were posting red for a majority of precious metals on the
market tracking board as of the halfway point today. April contract gold was
lower by 25.50. May contract silver was lower by .13. April contract Platinum
was red by 44 and May contract Copper was in the red by .04. As the day wore on,
gold and silver prices ended up trending posting red but regained some of the
earlier losses in the day. The market index composites were left in a sea of red
as well. As of end of day close, stock index composites fell into a red hole.
The Dow Jones tumbled 228.10 points and ended the day at 11,984.99. The Nasdaq
ended the day in the red by 1.84 percent at 2,701.02 and the S&P 500 ended the
session lower by 24.91 points at 1,295.11. April contract gold ended the session
red by 1.20 percent at 1,412.50. May silver ended the session red by 2.72
percent at 35.07 per ounce. April Platinum floor price ended the session 2.02
percent in the red at $1765.60 an ounce. May contract Copper floor price ended
the session in the red by .36 percent at $4.20 per pound. Author: Camillo Zucari
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