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If the negative pressure that gold and silver price experienced during the last session carries over into today’s 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 today’s 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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