President Obamas speech about the national deficit and spending cuts he plans
on making helped to boost stock index composites yesterday afternoon. Obama
suggested that he will cut approximately $4 trillion dollars from the national
deficit in little over a decade. Stocks bumped higher and precious metal gold
and silver tracked in positive territory as well. June contract gold moved
higher by .14 percent to close yesterday;s session at 1455.60 a troy ounce. May
contract silver finished higher by .43 percent to finished the session at 40.24
an ounce. Yesterdays positive end was a bit of a turn around for precious metals
this week as the moderate rally in the latter half of yesterdays trading session
helped to push gold and silver into the green.Lower prices that had developed
this week lured in more buyers today as investors positioned more with precious
metal gold and silver. During the interval between yesterday session close and
this mornings session open, spot gold and spot silver price per ounce values
were trending upward. Spot silver per kilo was higher by 18.40 at 1306.29 and
spot silver per ounce was green by .57 at 40.63. Spot gold per kilo was higher
by 133.43 at 46845.25 and spot gold per gram was higher by .13 at 46.85. Gold
and silver trends are on the rise compared to the opening half of the week.
Author: Camillo Zucari
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