Stocks are giving back gains again today and as the trading session was moving
closer to official close in the U.S., the primary index composites were red.
Gold prices are moving higher again. Silver prices are following as well.
Precious metals gold and silver take position while stocks give back this day.
Overseas market trends are still uncertain as European stocks ended their
respective session mixed and Asian markets closed out mixed as well. The cues
are not supporting investor confidence on Wall Street just as the economic news
posting in the U.S. is not boosting optimism. Momentum was negative as stocks
closed out yesterday and many continue to hold worries associated with the
Eurozone debt crisis. In addition today, the Producer Price index posted a .2
percent rise in inflation. This action weighed negatively on investor
positioning today and pushed money away from riskier stock options. The safe
haven appeal of precious metals gold and silver held strong through the majority
of the trading session today. A weaker dollar also helped gold and silver
purchasing this day. As official close approached in the U.S. marketplace, gold
and silver continued to move in the green. Contract gold for December delivery
was posting higher by .39 percent at 1792 per troy ounce. Spot gold and spot
silver were moving higher as well at this point. Spot gold price per gram was
higher by .34 at 57.64 and spot silver price per ounce was higher by .47 at
40.29. Camillo Zucari
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