Market tracking today reveals that floor price for gold and silver contracts
posted end of day close values in the red as of the last open trading session.
Contract gold for June delivery posted just under break even and is .07 percent
red at 1491.61. Contract silver, which was hit in a very negative way during the
latter half of last week, ended the last open trading session 2.63 in the red at
35.29 per troy ounce. Gold and silver averaged loss over the course of the past
week. Market index composites values fluctuated throughout the week but the
dollar index gained some positive momentum. As is often the case, gold and
silver contracts struggled more as the dollar gained ground. Silver margin rate
changes this past week was the catalyst for precious metal silver drops and it
also had a negative impact on gold price per ounce trending. Towards the end of
the week, we saw a little bit of a rally with precious metal gold due to bargain
shoppers. Investors began to buy back some of the losses for gold and silver
during the second half of the last trading session in the U.S. as price per
ounce rates were considered by many to be too low to pass. Overall, red values
were how the metals closed. Spot gold and spot silver were posting mixed results
just after last session close with gold spot per gram and kilo showing green and
silver spot per ounce and kilo going red. Silver had a hard time attempting to
cover this week after the margin changes. Silver trends are expected to struggle
as this week opens due to those changes having an affect on Mondays trading.
Recent spot gold and spot silver market tracking reveals mixed posts. Spot
silver per kilo was red by 19.90 at 1144.95 as of last analysis and spot silver
per ounce posted red by .62. Last analysis of spot gold per gram reveals green
trending by .46 at 48.07 and spot gold per kilo is green by 458.15 at 48070.19.
Author: Camillo Zucari
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