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Precious metal gold began the week with positive momentum. Price per ounce closed the day in the green. Continued protests in the Middle East, as well as escalating threats of violence in Libya, were pushing oil prices higher and stock trend lines lower. Investors remained on edge over the rising oil prices and gold benefited as a result. April contract gold was higher by .41 percent at $1,434.50 an ounce. May contract silver was higher by 1.52 percent at $35.86 an ounce as of Monday close. Tuesday saw gold and silver contract prices dip lower. News posts on Tuesday revealed the possibility that Libyan leader, Moammar Gadhafi, might be willing to negotiate to find a peaceful resolution to the violence and turmoil that has been plaguing the Middle Eastern region. This news helped to push market indices higher. The dollar gained strength versus a handful of other currencies during the session as gold, silver, and oil prices fell back. The roller coaster went back up hill on Wednesday as gold and silver prices gained again. April contract gold was higher by .17 percent at $1429.60 an ounce. May contract silver was higher by 1.09 percent at 36.05 an ounce as of end of day close Wednesday. Thursday pushed price per ounce rates lower again. The turmoil and tensions stemming from world markets have the index composites and safe haven precious metals positioned to fluctuate. On Thursday, 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. Gold and Silver ended the week with gains and have been moving in a positive direction over the past month. The one month change for gold is positive by 3.75 percent. Even more dramatic is the one month change for silver. Silver prices have gone up almost 19 percent during the past month. Current spot gold and spot silver are trending green right now. Spot gold per gram is green by .15 at 45.56 and spot silver per ounce is higher by .78 at 35.84. Author: Camillo Zucari
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