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Gold and silver prices continued to move higher. Price per ounce rates for contract gold and silver continued to trend in positive territory this week during the first trading session. Contract gold for June delivery closed once again above the 1500 price per ounce mark. This was the second consecutive close above the 1500 price per ounce mark for gold after flirting with the close mark on several other occasions during last week’s trading sessions in the U.S. Gold reached a new close high yesterday as it finished the day off higher by 5.30 at 1509.10 an ounce. Another record finish for gold. Investors continue to position money with the safe haven asset of gold. The environment in the market continued to support gold and silver. The dollar dropped weaker again yesterday versus the euro and the British pound. It enable gold to soar high and silver to soar even higher, relative to respective previous session trends. Silver for May contract delivery finished the day at 47.15 an ounce. Silver contract trends have moved significantly higher over the last several months. Price per ounce rates have doubled over the last 6 months. Silver is approaching the 50 per ounce mark which is similar in comparison to gold hitting the 1500 per ounce mark. During the interval between yesterday’s session close and today’s session open, spot gold and spot silver posted negative trends however. Spot gold per kilo was red by 205.76 at 48129.67. Spot gold per gram was red by .21 at 48.13. Spot silver per ounce was red by .14 at 45.92 and spot silver per kilo was red by 4.43 at 1476.40. Author: Camillo Zucari
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