Gold and silver prices moved further into positive territory during the last
trading session. The primary stock indices in the U.S. finished in the red and
experienced significant losses during the last trading session. The primary
index composites in the U.S. took cues from overseas and those cues applied
negative pressure for the U.S. market. The Dow Jones finished the last trading
session lower by 3.68 percent at 10,990.58. The Dow fell over 400 points on the
day and the volatility that plagued investors last week is back. Fear and
anxieties were stoked and safe havens prospered. Gold prices touched new records
last session and gold contract for December delivery ultimately closed out the
session higher by 1.57 percent at 1822 per troy ounce. Silver contract for
September delivery moved higher by .84 percent at 40.69 per troy ounce. The one
month change for gold is positive by 14.12 percent and the one month change
status for silver is positive by .28 percent. During the interval after session
close, but prior to opening bell this day, spot gold and spot silver prices
continued to move higher. Spot gold price per gram was higher by 1.36 at 58.95
and spot silver price per ounce was higher by .31 at 40.66. The global economic
picture continues to worsen and the interest in safe havens continues to grow.
Camillo Zucari
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