Gold and Silver prices have been rising off the charts over the last several
weeks. June contract gold closed over the 1500 price per ounce mark yesterday
for the second consecutive day in a row. Silver surged yesterday as well as it
notched as high as 49.82 an ounce on Monday before backing off a bit and
finishing the day up by 2.4 percent at 47.15 an ounce. Gold trending has been
positive over the past month as the one month change is tracking positive by
6.24 percent. Silver is substantially higher over the same time frame. The one
month change for Silver is positive by 22.68 percent. Silver prices have doubled
over the past six months and many wonder how high the prices will actually go,
and when the corrections will take place. Yesterdays close values revealed
little sign of this happening and many analysts think that 50 dollar silver is
just around the bend. Silvers closing price yesterday was just shy of the high
silver hit in 1980 of 49.35 an ounce. The intra-day high on that day in 1980 was
50.35 an ounce. It appears that we are notching our way towards that type of
trending once again. Spot gold and spot silver prices have been trending higher
as well but tracking just prior to opening bell today revealed an opening for
pessimism. Spot gold and spot silver were both trending in the red this morning.
Spot silver per kilo was lower by 35.01 at 1480.86 and spot silver per ounce was
lower by 1.09 at 46.06. Spot gold per kilo was lower by 127.00 at 48378.84 and
spot gold per gram was red by .13 at 48.38. Author: Camillo Zucari
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