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 weeks 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 yesterdays session close and todays 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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