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dow2664 Today's gold and silver prices were dropping lower through the first half of the trading session and trending data was skewing towards a negative close for today. The dollar however was dropping lower as well. It had lost strength versus the euro, the British pound and the Japanese yen. Contract gold and Contract silver prices today were posting red values according to market board tracking as of the halfway point in the trading session. Metals were reading red values across the majority of the tracking board at this point. At the mid-day mark in today's session, June contract gold was off by 15.70 as it posted a floor price of 1524.70 per troy ounce. May contract silver was off by 2.55 as it posted a floor price of 40.04 per troy ounce. Silver has taken a significant hit lately and actually dropped below 40 an ounce during the session today. This movement is a far cry from the flirtatious action last week that teased 50 an ounce. Just this week alone, silver is off by over 15 percent. Negative action for silver was exacerbated by the CME margin rate increase. Gold has been negative, but not as negative as silver. Gold trending per troy ounce is only off by just over 2 percent for the week. As end of day close approached, the major market indices were red and gold and silver price per ounce were posting negative floor prices as well. June gold was lower by 25.10 at 1515.30. May Silver was red by 2.197 at 39.39 per troy ounce. Spot gold and spot silver prices were trending negative too. Spot gold per kilo was negative by 811.16 at 48704.20 and spot gold per gram was negative by .81 at 48.70. Spot silver price per kilo was negative by 105.65 at 1263.20 and spot silver price per ounce was negative by 3.29 at 39.29 just after session close today. Author: Camillo Zucari
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