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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