Contract gold and silver price per ounce rates finished yesterday's session
in the green, but trends observed prior to opening bell this morning were
suggesting that gold or silver might drop lower during today's trading
session. Spot gold and spot silver were mixed prior to today's market session
open with spot silver staying green and spot gold dropping into the red. Through
the first half of the trading session today, stocks dropped off from their
earlier highs and precious metal gold was trending lower as well. Electronic
prices for precious metals gold and silver were both posting values in the red
as of the halfway point in today's trading session. The dollar was weakening
versus a handful of other currencies but the inverse relationship often seen
between the dollar's strength and safe have metal interest was not observed
through the first half of the trading session today. Economic data was mixed
earlier today and investor's worries over sustained economic growth in the
U.S. were front and center. This type of market environment often promotes
increased interest in safe haven metals. Some analysts expect that increased
interest is inevitable in the in the current economic climate. As the trading
session approached close, the major index composites had rallied and finished
the session off green. Contract gold and contract silver price per ounce rates
finished the day red. Gold Contract for June delivery was red by .23 percent to
close at 1492.40. Silver contract for July delivery finished the day red as well
by .47 percent and closed at 34.93 per troy ounce. Spot gold and spot silver had
both fallen lower by end of day close as well. Spot gold per gram was red by .04
at 48.04 and spot silver per kilo was red at this point by 2.44 at 1125.85.
Author: Camillo Zucari
No comments:
Post a Comment