Gold futures were dropping lower as the last Monday session of trading in March
came to a close. Investors shrugged off developing news elsewhere in the world
and focused more on the positive economic data posting in the U.S. Safe haven
asset gold fell lower to start the trading week as a result. Gold for April
contract delivery dropped by .44 percent or 6.30 to finish the day at $1419.90
an ounce. May contract silver ended the day green with a floor price that closed
.11 percent or .039 higher at $37.09 an ounce. At the midpoint of the week on
Wednesday, contract gold and silver ended the session green. Contract gold
finished the session higher by 7.60 at 1423.80. May contract silver finished
higher by .52 at 37.51 an ounce. Gold finally ended its four day losing streak
as investors positioned more with precious metal gold as the majority determined
the price was right. Investors moved to acquire gold at a discounted price.
Value trends dipped lower again to round out the week for precious metal gold
and silver. The safe haven appeal of precious metals fell lower during the week
and by the last trading session Friday, contract metals had fallen mostly into
negative territory. June contract gold fell 11.00 to end the session at 1428.90.
May silver fell .33 to end the session at 37.73. Investors pulled hundreds of
millions overall from the precious metal markets based on rumors that the
central bank may hike interest rates higher during 2011. Author: Camillo Zucari
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