The gold rush was on, at least it was earlier in the trading session today.
Gold price per ounce rates moved in positive territory for some time today and
even touched another intraday high. Gold set an intraday record by touching
1817.16 price per troy ounce. Ultimately however, stock index trends improved
and gold prices dropped lower today. The major market index composites
stabilized today and spent a majority of the trading session moving in positive
territory. The better than expected results in overseas markets, specifically
with Britains FTSE and Frances CAC, helped to spill over additional confidence
to investors on Wall Street. This, paired with the positive data flowing from
the Labor Department today as well as the positive earnings data, helped to
motivate investors to move back into stocks. Just prior to close, the DJIA was
higher by almost 400 points at 11,118.68. Less attention was paid to the safe
havens like precious metal gold and silver. Both precious metals fell lower
today. As close was finalizing in the U.S. this afternoon, gold contract for
December delivery moved into the red by 1.84 percent at 1751.50 price per troy
ounce. Silver contract for September delivery dropped lower by 1.67 percent at
38.67 price per troy ounce. Spot gold and spot silver moved lower at this point
as well. Spot gold price per gram was lower by 1.30 at 55.97 and spot silver
price per ounce was lower by .65 at 38.68. Camillo Zucari
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