Gold prices continued to move higher during the last trading session in the
U.S. The primary stock indices experienced a rebound during the trading session
as some investors were feeling more optimistic during the session. The stock
market has been a volatile place lately and trends yesterday were choppy as
well. Investors are still having difficulty processing the data and predicting
direction. The uncertainty continues to help safe havens like gold even though
the indices finished green to open the week. The Dow Jones Industrial Average
finished higher yesterday by .34 percent or 37 points to close out at 10,854.65.
The dollar dropped lower versus the euro and the Japanese yen and this action
helped support precious metal gold acquisition. Precious metal gold was even
able to touch a mark above the 1900 per troy ounce mark according to electronic
trade prices. Gold for December delivery closed out the session higher by 2.14
percent at 1891.90 per troy ounce. Silver for September delivery rose higher by
2.10 percent to close out at 43.32 per troy ounce. During the interval after
session close but prior to opening bell today, spot gold and spot silver were
still moving positively. Spot gold price per gram was higher by 1.53 at 61.01
and spot silver price per ounce was higher by .99 at 43.42. The big news is the
pace of golds growth. Investors now worry if the bubble is positioned to pop.
Camillo Zucari
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