Gold contract prices moved higher into the green during the last trading
session. The DJIA moved higher by over 200 points at 11,482.90 but investors
still had generalized worries regarding economic growth. The dollar dropped
lower to a handful of currencies yesterday, including the euro and this action
made it cheaper to buy up gold commodities. Contract gold moved higher during
the session and closed out in positive territory. Gold for December delivery
finished green by .88 percent with a floor price of 1758 per troy ounce.
Electronic price posted higher by .38 percent at 1764.60 per troy ounce. Spot
gold moved positively as well after last session close. Spot gold price per gram
was higher by .73 at 56.68 and spot gold price per kilo was higher by 728.86 at
56677.59 after hours. Gold will continue to trend according to cues taken from
the global marketplace. If France receives a downgrade in its credit rating,
gold prices will move higher. As it stands, gold closed out last session well.
Gold mining stocks were positive also. Barrick Gold ABX finished the last
session higher on the day. ABX closed out green by 2.26 percent according to MSN
money quotes. Previous close for ABX was 49.56 with the 52 week high being 55.74
and the 52 week low being 42.50. Camillo Zucari
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