Precious metal gold and silver prices moved lower during the last trading
session as the primary stock index composites moved higher. Stocks were in rally
mode yesterday and this action left little room for gold and silver trends to
move into the green. Irene was damaging, but not as devastating as many
expected. This positively skewed outcome, paired with other positively skewed
economic reports yesterday, helped to push stock indices higher. The Dow Jones
Industrial Average finished the session higher by 2.26 percent and closed green
at 11,539.25. Golds safe haven appeal diminished in light of the better than
expected personal income and spending data that posted during the day. Gold
contract for December delivery finished in the red by .32 percent closing at
1791.60 per troy ounce. Silver contract for September delivery closed out red by
.99 percent at 40.55 per troy ounce. The one month change status for gold is
still positive by 10.60 per troy ounce. The one month change status for silver
is positive by 2.47 percent. After last session close but prior to todays
opening bell, spot gold and spot silver prices were moving in divergent
directions. Spot gold price per gram was positive by .13 at 57.81 and spot
silver price per ounce was positive by .09 at 40.86. Camillo Zucari
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