Stock market index trend lines moved in a somewhat choppy and unpredictable
fashion this week due to the political turmoil and pockets of violence flaring
throughout the world. Precious metal price trends moved in a similar fashion as
well this past week. To start the week on Monday, the world felt rattled by the
quake in Japan. Dealing with the aftermath has created increased uncertainty in
the market. The dollar dropped lower to the euro and the British pound during
the session Monday. April contract gold finished in the green by .22 percent at
$1,424.90 an ounce. May contract silver moved lower by .26 percent at $35.84 an
ounce. May contract Copper was red as well and ended the session at $4.19 per
pound. Negative momentum continued on Tuesday for index trends in the U.S. but
the dollar was gaining strength this day. Gold, silver and copper all fell back
this day. April contract gold finished the day lower by 2.11 percent at
$1,394.80 an ounce. May Silver closed lower by 4.81 percent at 34.12 an ounce.
May Copper fell back by 1.18 percent at $4.14 a pound. On Wednesday, precious
metal contracts bumped higher once again. 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. The last two
trading session of the week were more positive for stock market indices in the
United States. The dollar was losing strength as the yen shot up higher and gold
futures were on the rise once again. Gold and Copper pushed into the green this
day. Contract gold for April delivery moved higher by .58 percent and finished
the day off with a floor price of $1404.20 an ounce. May contract silver ended
lower by .62 percent with a floor price of $34.26 an ounce. May copper ended
higher by 3.49 percent with a floor price of $4.34 per pound. The dollar fell
versus the euro on Friday and gold futures for April delivery moved higher.
Floor price for April contract gold was higher at close by .85 percent and
finished at $1,416.10 an ounce. May contract silver moved higher by 2.34 percent
at $35.06 per ounce. Copper fell lower on the day by .12 percent at $4.34 per
pound. Over the weekend, spot gold and spot silver prices continued to move in
the green. Author: Camillo Zucari
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