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Gold and silver prices are rallying and moving higher. After opening bell this morning, stocks dropped lower as a result of economic reports that came in beneath expectations. Big banks are under increased scrutiny in the current environment regarding "unsafe" foreclosure practices and applications for unemployment recently moved higher. A stock market that was building positive momentum is showing signs of instability. The instability is pushing negatively on stocks. The mid-day values for the major index composites in the United States were red across the board with the Dow Jones lower by .30 percent. The dollar was falling versus a handful of other currencies today and gold futures were on the rise. At the halfway mark of today's trading session, gold contract for June delivery was posting a floor price higher by 12.30 at 1467.90. By end of day close, the major index composites in the U.S. were mixed. The Dow Jones and S&P 500 were trending in positive territory and the Nasdaq was struggling to reach the green prior to close for the day. Precious metals gold and silver posted positive price per ounce values. June contract gold moved higher by 1.15 percent to finished the day at 1472.40 an ounce. May contract silver finished the day higher by 3.55 percent and posted a floor price of 41.66 an ounce. Contract copper ended the session in the red by .24 percent at 4.28 per pound. Author: Camillo Zucari
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