Investor anxieties were on the rise this week and price per ounce for contract
gold and silver followed higher. Relative higher were reached for gold price per
ounce yesterday and after hours spot gold and spot silver prices continued to
trend in positive territory. Today, the world markets are attempting to process
the most recent developments in Japan. Another earthquake struck Japan today
registering 7.1 and prompted further tsunami warnings. Major stock index
composites plummeted as word spread of this news. Precious metals maintained
safe haven appeal. Gold futures were on the rise today and the dollar was rising
versus the euro and the British pound. At mid-day of today's trading session,
June contract gold was higher by .23 percent or 3.30 at $1461.80 per troy ounce.
As news spread of the earthquake and stock index composites fell lower,
investors repositioned money with safe haven metals. By end of day close, the
major indices in the U.S. were trending in the red and precious metals like
gold, silver and copper were posting floor prices in the green just prior to
closing bell. Contract gold for June delivery was posting green by .05 percent
at $1459.30 per troy ounce. May contract silver was green by .42 percent with a
posted floor price of $39.55 a troy ounce. May contract silver was green with a
floor price higher by 1.06 percent at $4.42 per pound. Author: Camillo Zucari
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