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Investors began to position with gold and silver during the latter half of the trading week last week and thus gold and silver price trends rallied toward week’s end. The week closed out with gold and silver notching higher price per ounce rates. Specifically, June contract gold moved higher by 13.60 to end the week at 1486 per troy ounce. May contract silver moved higher by .907 to end the week at 42.57 per troy ounce. The one month change for gold was positive by 5.61 percent and the one month change for silver was positive by 21.94 percent. Economist believe that many investors decided to enter the precious metal market while the rates notched lower at perceived bargain values. After the market closed last week, spot gold and spot silver price trends were moving in an upward direction. Prior to opening bell for the first trading session this week, spot gold and spot silver prices were moving in a positive direction. Spot silver per kilo was higher by 22.57 at 1391.10 and spot silver per ounce was higher by .70 at 43.27. Spot gold per kilo was trending in the green by .32 at 47753.83 and spot gold per gram was posting green at 47.75. Gold and silver ended the last week higher and trends continue to move in an upward direction. Investors will keep a close eye on the precious metal movement as this week opens. Last week was somewhat volatile with the week opening lower for precious metal gold and silver and the week ultimately ending higher for the precious metals. Worries related to inflation realities and potentials. They kept diversification at the forefront of investors’ minds. U.S. data and overseas data reveals that inflation gauges rose and investors took note. The question many have at this point is weather metals can continue to rise, or if the precious metals like gold and silver have reached a price point that most investors feel is too high. Gold and silver price trends will garner specific attention this week. Author: Camillo Zucari
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