Price per ounce for precious metal gold and silver contracts fell lower into
the red during yesterdays trading session. Stocks struggled throughout the last
trading session as well and were pulled lower due to a moderate sell off that
occurred earlier in the last trading session. The Dow Jones Industrial Average,
along with the Nasdaq and the S&P 500, ended the session in the red along with
floor prices for the major market metals. June contract gold ended the session
red by 14.50 to finish the day at 1453.60 per troy ounce. May contract silver
ended the day with a floor price lower by .55 at 40.70 per troy ounce. The one
month change for precious metal gold is still trending in a positive direction
even with the recent negative close price per ounce values. The one month change
for gold is green by a positive 2.21 percent. The one month change for silver is
positive as well by an even greater degree. Silvers one month change is positive
by 11.94 percent. News posted this week relaying the Goldman Sachs is
recommending that clients sell off some commodities, like oil and other
commodities, and wait for prices to drop lower to buy in again. This
recommendation should apply negative pressure to the price values of gold and
silver. During the interval between Tuesday session close and Wednesday session
open, spot gold and spot silver prices were trending in the red. Spot silver per
kilo was lower by 13.11 at 1292.34. Spot silver per ounce was red by .41 at
40.20. Spot gold per gram was red by .37 at 46.81 and spot gold per kilo was red
by 372.63 at 46,805.38. Author: Camillo Zucari
No comments:
Post a Comment