Economic data skewed negative during the last trading session in the U.S. and
as a result, the primary stock indices barely held green to close out the
session. The Dow Jones Industrial Average finished off the session higher by
only 20.7 points to close at 11,559.95. Gold and silver contract prices, as well
as spot gold and spot silver prices, bumped higher during the session as
investor confidence waned. Specific data posted during the session yesterday
relaying the extent of the pressure influencing consumer confidence. According
to the Conference Boards report, the Consumer Confidence index dropped
significantly between July and August. The drop was as severe as any seen in two
years. The safe haven appeal of precious metals grew more attractive as the
negatively skewed economic data posted. Gold contract for December delivery
moved higher by 2.13 percent to close out at 1,829.80 per troy ounce. Silver
contract for September delivery moved higher by 2.10 percent to close out at
41.40 per troy ounce. Spot gold price per gram was higher by .134 at 58.84 and
spot silver price per ounce was higher by .82 at 41.37. Camillo Zucari
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