The stock market rebound in the U.S. appears to be positioned to extend over
two consecutive days. Approaching close today, the DJIA, Nasdaq and S&P 500 are
posting green across the board and positioned for the solid close to end the
week. Gold prices dropped back again as the dollar strengthened versus the euro
and investors felt another boost of confidence today. Investors gained
confidence as cues from Europe were more positive during the overseas session.
European stocks ended with solid gains and this positive action spilled over in
to the U.S. marketplace. Economic reports today were mixed as consumer sentiment
posted lower but retail sales data was better than expected. Just prior to
close, the DJIA was moving in positive territory. The DJI was higher by over 115
points at 11,248. Gold and silver contracts were mixed. Gold was lower and
silver higher. Minutes before official market close in the U.S., contract gold
was lower by .51 percent at 1,742.60. Contract silver for September delivery was
higher by 1.15 percent at 39.91 per troy ounce. Spot gold and spot silver were
moving in divergent directions. Spot gold price per gram was red by .26 at 55.96
and spot silver price per ounce was green by .36 at 39.02. Camillo Zucari
No comments:
Post a Comment