Stocks are plunging in the marketplace today and gold price per ounce is
soaring. All primary indices in the U.S. are red at mid-day and the DJIA is
negative by about 400 points. At one point the Dow had plunged lower by over 500
points. News broke of the Morgan Stanley report which stated that the U.S. is
dangerously close to another recession. Fear and anxiety have been the result
for investors on Wall Street. World markets are plunging as well. Asian stocks
finished negative for the day and European stocks are weak as well. All the
negativity is fueling gold prices this day. Precious metal gold and silver are
benefiting from the growing concerns in the world marketplace. Gold pushed high
above the 1800 price per troy ounce mark today as investors seek out the safe
haven yellow metal. At the halfway point in the trading session today, precious
metal gold contract for December delivery was green by 1.35 percent or 24.20 at
1818 per troy ounce. Spot gold and spot silver prices were trending green at the
halfway point as well. Spot gold price per gram was higher by 1.23 at 58.54 and
spot silver price per ounce was moving in positive territory by .71 at 40.53.
Gold and silver will move higher amidst the gloomy economic outlook that has
been painted this day around the world. Camillo Zucari
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