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Spot gold and spot silver price rates were trending in a positive direction just prior to opening bell this morning. Stocks were lower by the half-way point in today's trading session and the dollar was falling versus the euro and the British pound. Precious metal contract gold and silver price per ounce rates moved higher up through this point in the trading session. Investors were generally sidelined as they awaited news from the central bank and related comments from Chairman Bernanke afterwards. At the halfway point, the Dow Jones Industrial Average was just into the green and gold and silver maintained positive trending. Floor price for June contract gold was higher by .43 percent at 1510 an ounce. May contract silver floor price was green by .47 percent at 45.26 an ounce. Gold and silver rallied prior to Bernanke's comments today. The Fed's plans relating to interest rates were the main focus regarding gold and silver trading developments. After the Fed's released their comments, gold and silver responded in a positive fashion. The Feds relayed that they would continue to keep interest rates low in an effort to further stimulate the economy. Gold and silver notched higher after this announcement. June contract gold moved higher by .90 percent to finish the day at 1517.10. May contract silver finished the day higher by 2.02 percent at 45.96 an ounce. Safe haven appeal stayed sticky after the announcement today and investors positioned money with the safe haven precious metals to further diversify. Spot gold and spot silver prices continued to trend in a positive direction as well. Spot silver price per kilo was higher by 94.20 at 1542.59. Spot silver price per ounce was higher by 2.93 at 47.98. Spot gold per gram was green by .79 at 49.11 and spot gold per kilo was higher by 790.27 at 49112.84. Author: Camillo Zucari
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