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dow2664 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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