Floor price for precious metal silver and gold finished in the red as of last
session close in the United States. After hours trending revealed that spot gold
and spot silver continued to post price per ounce values that continued in
negative territory. Yesterday, the Feds released statements that were favorable
towards the economic recovery process in the United States. This could lead to
improved trending for stocks, but result in lower trending for safe haven
assets. The strength of the dollar helped to move investors away from the safe
haven assets throughout yesterday's session and today, the dollar continue
positive trending versus the euro and the British pound. At the halfway point
however, U.S. stock index composites were trending red across the majority of
the market tracking board. In contrast to stock index line movement, Gold
futures for April delivery were moving higher during the session. Floor price
per ounce for April contract gold was higher by $9.00 at the mid-day mark. As
the day wore on, stock index composites ultimately ended the U.S. session
significantly lower. The Dow fell 2.04 percent at 11,613.46. April contract gold
ended the day in the green by .29 percent at $1,396.80 an ounce. Silver contract
floor price ended the day higher by 1.04 percent at $34.47 an ounce. Copper
contract finished in the green as well by 1.46 percent at $4.20 per pound.
Author: Camillo Zucari
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