The major index composites in the United States got off to a better start today
and the positive trending was consistent through the first half of today's
trading session. The dollar was gaining strength during the day's trading
session and gold futures continued to fall back. Home based economic reports
were more positive today as the jobs outlook for our nation received a boost.
Data from several analytic reports revealed that less jobs were cut in the month
of March and the private sector employers were adding more jobs. Both pieces of
data represent signs of an improving economy that is growing and moving in a
positive direction. This data was good for stocks and investors felt more
inclined to position with stocks this day. By the halfway point of the trading
session, gold futures were still positive. The dollar was stronger versus the
euro and the Japanese yen and April contract gold was higher by .85 percent.
Gold, Silver and Platinum contracts were all posting positive values at mid-day.
By end of day close, precious metals posted mixed. Approaching close, April gold
was higher by .54 percent at $1423.80 an ounce. May silver posted a floor price
higher by 1.42 percent at $37.51 an ounce. May Platinum moved higher by 1.77
percent with a floor price of $1771.40 an ounce and May Copper was lower by 1.67
percent at $4.27 per pound. Author: Camillo Zucari
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