Stronger economic data appears to be helping stocks finish higher as the month
of August closes out. Many investors are happy to see August end and a new month
begin however. Economic reports this month have been mixed, to poor, this month
and the primary indices suffered overall. August was negative overall for the
primary stock indices and although it appears the DJIA and others will end on a
stronger note, the month will be a loser. One would have to research back to
2009 to find a month that was as negative for stocks. Precious metal gold
skyrocketed earlier this month due to the economic volatility. The major
catalyst for the peeked interest in golds safe haven appeal was the credit
downgrade the U.S. suffered. In addition, the Morgan Stanley report portrayed a
challenged global economy. This paired with the difficulties already observed in
the U.S. economy helped to push precious metal gold and silver higher. Since
then, market news has been up and down. As a result of the choppiness, gold and
silver have fluctuated with the economic reports. It appears that August will
close out stronger regarding economic data, and the gold could end lower this
day. As the mid-day approached, gold price per ounce was trending negative. Spot
gold and spot silver prices were both posting green at this point. Spot gold per
gram was higher by .32 at 59.04 and spot silver price per ounce was green by .28
at 41.68. Camillo Zucari
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