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dow2664 Worries over our nation's economic recovery and growth were front and center during the open market trading session today in the United States. Major index composites in the U.S. were dropping lower today and through the first half of the trading session, gold and silver price per ounce contract rates were posting in the red as well. During the first half of the trading session today, the dollar strengthened and this applied negative pressure on contract gold and silver rates. At the mid-day point of today's trading session, June contract gold was lower by .59 percent and posted a floor price of 1481.80 per troy ounce. Contract silver for July delivery was also dropping lower and posted a floor price of 34.13 per troy ounce. Gold was pressured specifically by the huge reductive action taken by George Soros today. Soros reduced his holdings in the SPDR Gold Shares and NovaGold. The headlines spread quickly regarding the mass selling of shares and this pressured trending for precious metals, especially gold. Yesterday was a negative day for gold and silver value trends due to the struggling euro. This negative momentum carried over to today's session and the additional headlines of the share sell off just made a potential rally more difficult for gold and silver. Author: Camillo Zucari
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