Precious metal safe havens received more attention during the last trading
session. Asian and European stocks faltered and ended their respective sessions
mixed. The primary U.S. composites fell even harder as corrections in the
marketplace transpired yesterday in the U.S. Stock indices closed on the
negative side of break-even. Housing starts for July posted weaker than
anticipated and investors worries regarding economic growth and progression in
the U.S. build. The worry and volatility create a tone and environment conducive
for safe haven gold and silver acquisition. The DJIA, Nasdaq and S&P 500
finished red, but gold and silver pushed higher into the green yesterday. The
DJI was lower last session by .67 percent closing at 11,405.93. Gold contract
for December delivery was higher by 1.54 percent and closed out at 1785 per troy
ounce. The one month change for gold is definitively higher by 11.27 percent.
Silver contract for September delivery moved higher by 1.30 percent and
officially closed out at 39.82 per troy ounce. Silvers one month change status
is negative by 1.80 percent however. After session close, but prior to todays
opening bell, spot gold and spot silver moved in positive territory. Spot gold
price per gram moved higher by .98 at 57.42 and spot silver price per ounce
moved higher by .56 at 39.86. Camillo Zucari
No comments:
Post a Comment