If the negative pressure that gold and silver price experienced during the last
session carries over into todays market session, gold and silver price per ounce
rates could drop even lower. End of day close yesterday for contact gold and
contact silver price per ounce rates was red and spot gold and spot silver
prices continued to trend in a negative direction after last session close in
the U.S. Contract gold for June delivery finished the last session red by 1.63
percent and closed at 1515.30 an ounce. May contract silver finished lower by
7.51 percent to close out with a floor price at 39.39 per troy ounce. Silver has
been struggling as of last ever since the CME group recently raised margin
rates. Another news post relayed yesterday that the group plans to raise margin
rates again. Silver will be under increased pressure once again as a result.
Gold has been dealing with recent losses as well but not to the extent silver
has. Gold is down for the month of April so far after posting a positive gain of
over 8 percent in March. During the interval between last session close and
todays session open, spot gold and spot silver tracking revealed that gold and
silver price trends were still posting negative. Spot gold price per gram was
red by .74 at 48.77 and spot gold per kilo was red by 742.68 at 48772.68. Spot
silver price per ounce was red by 3.62 at 38.96 and spot silver price per kilo
was red by 116.22 at 1252.63. Author: Camillo Zucari
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