Gains were made earlier in the trading session today but then stock indices
swiftly moved back. Concerns over the eurozone debt crisis is coming into focus
once again and these concerns are draining the confidence that has been filling
within the ranks of investors on Wall Street. The primary indices in the U.S.
fell red and precious metal gold prices continue to drop back further as well.
It appears that the most recent rally for gold was a bit overzealous and
corrections are taking place currently. At the halfway point in the days trading
session, stock indices and precious metal gold are trending in negative
territory. The Dow Jones Industrial Average is red by 1.38 percent at 11,164.62.
The Nasdaq is red by 1.36 percent and the S&P 500 is red by 1.21 percent so far.
Gold contract for December delivery is posting negative by .76 percent at 1744
per troy ounce. Silver contract for September delivery is moving higher though
by 1.25 percent at 39.65 per troy ounce. The dollar is growing stronger today
versus the euro, British pound and Japanese yen. Spot gold and spot silver are
currently moving in divergent directions at this point as well. Spot gold price
per gram is red by .18 at 56.24 and spot silver price per ounce is green by 1.20
at 40.36. Camillo Zucari
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