Gold and silver price per ounce contract rates moved higher throughout the
trading session in the United States. Precious metals were the popular money
investment during the day as stock index composites ended the day in the red.
Stocks dropped off earlier in the trading session yesterday after Standard and
Poors less than desirable rating of the U.S. economy alarmed investors. The
rating dropped from stable to negative and gave a more pessimistic outlook of
economic growth than many were prepared to digest. This news continued to
support investor choice and diversification. Investors positioned with precious
gold and silver. As of end of day close in the U.S. on Monday, precious metal
gold and silver prices per ounce were trending in positive territory. Contract
gold for June delivery finished the session higher by 6.90 at 1492.90 an ounce.
May contract silver finished the session higher by .385 at 42.96 per troy ounce.
Gold and silver ultimately received a significant boost this day due, in part,
to the Standard and Poors poor rating. Golds one month change is currently
positive by 5.61 percent and Silvers one month change is currently positive by
21.94 percent. Wall Street was shocked by the economic ratings information
yesterday and investors turned to the tangibly safe bet. Gold and silver were
the popular choice. After last session close, spot gold and spot silver
continued to trend in the green. Spot silver per ounce at this point was higher
by .57 at 43.14 and spot silver per kilo was higher by 18.39 at 1386.92. Spot
gold per gram was higher by .23 at 47.99 and spot gold per kilo was higher by
234.06 at 47987.56. Gold and silver prices continue to trend in the green.
Author: Camillo Zucari
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