Gold price per ounce touched an intraday high on Wednesday but trends for the
precious metal moved lower during the latter half of this past trading week. The
lower trends for the safe haven yellow metal parallel the higher trends observed
in the stock market. The primary index composites finished higher for two
consecutive days to close out the trading week. The volatility that began the
week dissipated as the week wore on and a sense of calm set in for investors on
Wall Street. The improved consistency observed in stock index trends during the
latter half of the week decreased the safe haven appeal of precious metal gold
and thus gold closed out lower. Contract gold finished last session lower by
8.90 to close the day at 1,742.60 an ounce. Gold touched an intraday high on
Wednesday by posting a price of 18.17.60 per troy ounce at one point. Ultimately
gold finished the week higher overall by 5.5 percent. Silver contract finished
the last session higher by 44.5 to close out at 39.11 per troy ounce on the day
and higher for the week by 2.4 percent overall. After last session close, spot
gold and spot silver prices continued to move in divergent directions. Spot gold
price per gram was red by .08 at 56.15. Spot silver price per ounce moved higher
by .41 at 39.06. Camillo Zucari
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