Gold and silver contract prices ended the last trading session in the green.
Spot gold per gram prices and spot silver per ounce prices were in positive
territory at this point as well. Gold hit a minor slump during the initial half
of the last trading week as corrections occurred. Stocks were rebounding as
well. Last week was the first in four that indices finished off the week as a
whole in positive territory. Federal Reserve Chairman spoke on the last trading
session and investors on Wall Street were all ears. Most thought that due to the
lethargic U.S. economy, QE3 would be initiated. Bernanke only promised that the
central bank would further review the state of the economy in the U.S. to
determine how best to address concerns. Safe haven appeal for precious metals
gold and silver grew stronger and helped the two contracts break into positive
ground to close out the last session. Gold contract for December delivery
finished green by 23.20 at 1797.30 per troy ounce. Silver contract for September
delivery moved green by .207 at 40.95 per troy ounce. Spot gold per gram was
green by 2.15 at 58.75 and spot silver per ounce was green by .55 at 41.30.
Camillo Zucari
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