Stocks sunk lower once again today. It has been a choppy roller coaster ride
this week in the marketplace as trends have traveled through peaks and valleys.
Stocks were on the mend yesterday after the Feds announced news that they would
keep interest rates at relative lows through 2013. The major indices responded
positively and investors on Wall Street breathed a sigh of relief. The DJIA
dropped over 600 points on Monday only to rebound by over 400 yesterday. Today,
negative trending has taken hold once again. Investor worries relate primarily
to the recent credit downgrade the U.S. received as well as the continuation of
debt problems in Europe. Today, the Dow dropped significantly again and at one
point was off by almost 500 points. Yesterday seems more like an anomaly at this
point. The central banks assessment of the U.S. economic recovery is that it
will remain slow for the next couple years. The negative action today is the
processing of this information in tangible form. Gold however is pushing to all
time highs. Gold prices surpassed 1800 dollars per troy ounce today as the safe
haven metal is attracting tons of attention lately. As close approached for the
day, the DJIA was off by over 325 points and gold was climbing the ladder. Gold
contract for December delivery was higher by 2.60 percent at 1788.30 per troy
ounce. Spot gold price per gram was higher by 1.23 at 57.17 and spot silver
price per ounce was higher by 1.38 at 39.26. Camillo Zucari
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