This week will be a busy one for economic report in the U.S. Investors on Wall
Street are hoping that positive momentum from last week will carry over the
weekend and help indices open higher. Hurricane Irene, now tropical storm Irene,
ravaged much of the East coast and put a damper on business. Money was lost and
it wasnt until yesterday that the mayor of New York made it clear that the NYSE
would ring the opening bell on time as usual to begin the week. If that wasnt
enough to cause tension, investors now only have to worry about the state of
economic progress from here on out in the U.S. Federal Reserve Chairman Ben
Bernanke stated last week that further analysis of concerns would need to take
place before the central bank will move to address identified concerns. He
stopped short of offering QE3. At this point, the safe haven interests peaked in
the minds of many investors and precious metals gold and silver finished off the
last trading session in the green. It appears that gold may be moving its way up
the ladder once again. Gold steadied in the latter half of last week and closed
out the last session green by 1.93 percent at 1797.30 per troy ounce. Silver
moved green by .51 percent at 40.95 per troy ounce. Just prior to opening bell
today, spot gold and spot silver were moving in positive territory too. Spot
gold per gram was green by .75 at 58.43 and spot silver per ounce .21 at 41.16.
Camillo Zucari
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