Todays spot gold and spot silver prices were trending lower prior to opening
bell this morning. Todays contract gold and contract silver prices continued to
post red through the first half of the days trading session. The major index
composites were mixed at the halfway point and the dollar was gaining strength
versus the euro and the British pound. Gold prices were negative through the
first half of the session today but silver was under significant pressure.
Investores are worried and feel pressure which stems from the recent order
changes initiated by the CME. This caused the major slide observed with Silver
today. At the halfway point in todays trading session, silver contract for May
delivery was posting a floor price negative by 6.71 percent at 43.22 an ounce.
Gold contract was red by .79 percent at 1544.80 an ounce. As end of day close
approached, the major indices in the U.S. were in the red. The Dow Jones dropped
2 points lower. Gold for June delivery finished lower by 16.70 at 1540.40 per
troy ounce. Silver contract for May delivery ended the day lower by 3.49 at
42.58 an ounce. There was no rally for gold and silver prices this day. Spot
gold and spot silver prices were both trending in a negative direction after
closing bell today. Author: Camillo Zucari
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