It was a week that ultimately lifted gold and silver prices to record levels.
The stock market struggled under negative pressure stemming from several areas.
In this environment, safe haven assets prospered throughout the week. Starting
the week off on Monday, June contract gold finished the day higher by .29
percent at $1433 per troy ounce. May contract silver finished the session higher
by 2.02 percent at $38.49 per troy ounce. Tuesday, many mulled over the rising
interest rate potentials in the U.S. and investors continued to feel negative
pressure stemming from the turmoil in the Middle East. Gold settled up by $19.50
at $1452.50 a troy ounce. Spot gold and spot silver prices continued to move
higher as well. On Wednesday, precious metals stayed aloft. June contract gold
finished higher by .41 percent at $1458.50. May contract silver finished the day
higher by .52 percent at $39.39 an ounce. On Thursday, unpredictability was
spreading as investors attempted to process the negative ramifications from
multiple situations. Middle Eastern conflicts continued to apply negative
pressure. The price of oil was rising at a record pace and applying negative
pressure. The ongoing developments relating to the crisis in Japan continued to
get worse with the most recent aftershock. Safe haven appeal grew. June contract
gold finished higher by .80 at 1459.30. May contract silver finished the last
session higher by .165 at 39.55 an ounce. Spot gold and spot silver continued to
trend in positive territory. To end the week on Friday, gold and silver
continued to trend in positive territory. The threat of the government shutdown
was enough to keep their appeal at the forefront as investors diversified. The
precious metal tracking board was covered in green this day. Gold for June
delivery was higher by 1.01 percent at $1474.10. Silver for May delivery was
higher by 2.67 percent at $40.61. Currently, spot gold and spot silver are
tracking in the green. Spot silver per kilo is higher by 43.85 at 1315.16. Spot
silver per ounce is higher by 1.36 at 40.91. Spot gold per gram is green by .52
at 47.41 and spot gold per kilo is higher by 515.05 at 47406.92. Author: Camillo
Zucari
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