Gold price per ounce moved higher last week as it flirted with breaking the
close mark of greater than 1500 per ounce on several days. Both gold and silver
had above average gains throughout the last trading week and gold ultimately
broke the 1500 price per ounce mark. This happened on the last day of the
trading week last week which happened to be Thursday due to the observed holiday
on Friday. It was a positive week for gold and silver prices and investors will
have all eyes focused in observance of gold and silver trends this week. Some
analysts are looking for gold and or silver to hit a ceiling and or a correction
of pricing, but many believe that the encompassing fears of inflation and
global/political turmoil will continue to support gold and silver price per
ounce trends and push them even higher. June contract gold finished the last
trading session in the U.S. higher by .64 percent at 1503.80 an ounce. May
contract silver finished higher by 3.59 percent at 46.06 an ounce. During the
interval between last session close and just prior to opening bell for the start
of the trading session in the U.S. on Monday, spot gold and spot silver were
pushing into the green. Spot silver price per kilo was higher by 53.98 at
1534.81. Spot silver per ounce was higher by 1.68 at 47.74. Spot gold per kilo
was green by 294.50 at 48629.93 and spot gold per gram was higher by .29 at
48.63. The dollar was trending lower last week versus a basket of other
currencies and this also helped gold prices to surge forward. Signs of inflation
are creeping in and if the dollar trends lower this week, gold and silver price
rates should continue to trend in a positive direction. Author: Camillo Zucari
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