Contract gold and silver dropped lower as of end of day close on Tuesday. Spot
gold and silver prices were trending lower during the interval between
yesterday's session close and today's session open. Gold and silver prices
have struggled in recent days. Prior to opening bell this morning however, spot
gold and spot silver prices were showing signs of life as they moved in positive
territory. Stocks struggled earlier today after getting off to the more positive
start. At the halfway point of today's trading session, the major market
indices were mixed and the Dow Jones was just below breakeven. The dollar was
falling versus the euro and the British pound but gold futures were on the rise.
After trending in negative territory for the majority of the week, Gold for June
delivery was posting floor price values in the green today. At the halfway point
in today's trading session, Gold for June delivery posted higher by 9.40 at
1463 per troy ounce. By end of day close, the major stock indices closed in the
green across the board and precious metal gold and silver were trending higher
as well. June gold posted .14 percent higher at 1455.60 per troy ounce at
sessions end. May contract silver was higher by .43 percent at 40.24 a troy
ounce. July contract platinum was in the green by .16 percent at 1777.20 an
ounce. May contract copper posted a lower floor price by 2.03 percent at 4.29
per pound. Author: Camillo Zucari
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