Gold and silver rallied yesterday and the positive momentum carried contract
price per ounce values higher into the green today as well once again. Spot gold
and spot silver price were also moving in positive territory just prior to
opening bell for today's trading session in the U.S. Positive gains for gold
and silver paralleled less desirable news on the economic home-front. The
economic recovery stumbled somewhat and after three days of posting gains, the
major market indices in the U.S. were dropping off and trending lower. The GPD
report came in lower than expected today and first time unemployment
applications moved higher than expected. The dollar moved lower versus the euro,
the Japanese yen and the British pound. Precious metal gold and silver surged
higher. At the halfway point in today's trading session, June contract gold
and May contract silver were both trending in positive territory. June contract
gold was higher by .75 percent or 11.40 at 1528.50 at the halfway point in
today's trading session. Gold prices were trading at new highs today which
added more fuel to the precious metal commodity fire. The current environment,
with the weaker dollar and higher inflation potentials, is keeping safe haven
metal diversification at the forefront of investor's minds. As the session
came to close today, precious metals gold and silver continued to post floor
price values in the green. Contract gold for June delivery was higher by 14.10
at 1531.20. May contract silver was green by 1.56 at 47.52 an ounce. Spot gold
price per kilo and gram were trending green as were spot silver prices per kilo
and ounce. Gold and silver price rates continue to trade up. Author: Camillo
Zucari
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