Precious metal commodities moved into the green to close out the last trading
session just as Hurricane Irene was approaching the East Coast of the U.S. Many
speculate that the Hurricane is acting to modify investor behavior by pushing
certain investments. The safe haven appeal of gold and silver held strong on
Friday. As the Hurricane winds increased, so to did precious metal contract
prices. Gold contract finished higher and once again is approaching the 1800
price per troy ounce mark. Oil price per barrel received a push in the positive
direction as well from Hurricane Irene. During the final hours of trading on
Friday, Oil price per barrel turned green. Light sweet crude broke into positive
territory by .08 percent to settle the session at 85.37 per barrel for October
contract. Heating oil moved higher on the day as well. Heating oil for October
delivery went green by .76 percent to close out at 3.02 per gallon. Sweet crude
is still negative as the one month change for the commodity posts in the red by
12.02 percent. The one month change status for gold is positive by 13.06
percent. Gold contract for December delivery finished off Fridays session higher
by 1.31 percent at 1797.30 per troy ounce. Camillo Zucari
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