The precious metal tracking board was enveloped in a hue of red to end the last
trading day in the United States this week. Gold, Silver, Platinum, and Copper
all ended on the negative side of break-even for floor price at end of day
close. Precious metals moved lower on the day as they continued to lose strength
against the backdrop of the positive trending of the major U.S. index
composites. The Dow Jones finished the week ahead as it posted a close value
higher by .41 percent on the day at 12,220.59. The index was approximately 3
percent higher for the week. The dollar gained against a basket of other
currencies as well. Gold pushed lower versus the pressure of improving indices
and a strengthening dollar. April contract gold dropped 13.70 on the day to
1426.20. May contract silver dropped .33 to 37.05 on the day. The one month
change for silver continues to move in a positive direction as tracking reveals
this value to be positive by 10.64 percent. The one month change for gold
continues to move in a positive direction as tracking reveals this value to be
positive by 1.66 percent. Current spot gold and spot silver values are moving in
divergent directions. Spot silver per kilo is moving in the green by 3.57 and is
posting at 1199.42. Spot silver per ounce is trending higher by .11 at 37.31.
Spot gold is tracking red however. Spot gold per gram is lower by .28 at 45.96
and spot gold per kilo is lower by 276.50 at 45956.50. Author: Camillo Zucari
No comments:
Post a Comment