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dow2664 Gold price per ounce rates moved higher this trading session as did silver price per ounce rates. Contract gold and silver prices both flourished as investors decided to move towards safe havens after several major economic posts skewed negative and diminished investor confidence in the economic recovery. The GDP report on Friday was weaker than expected and then to open the week, the manufacturing report was below expectations. Today, the consumer spending report was weaker than anticipated. Even with the House and Senate passing the debt deal and the President signing the bill into law, the major stock indices were unable to rebound. The environment was ripe for safe havens and precious metals pushed higher today. As close approached, contract gold for December delivery was green by 1.41 percent or 22.80 and closed out at 1,644.50 per troy ounce. Contract silver for September delivery pushed higher by 3.31 percent and posted an electronic price of 40.61 per troy ounce. The one month change for gold is positive by 9.12 percent. The one month change for silver is positive by 14.44 percent. At this point, spot gold and spot silver prices were moving in positive territory. Spot gold price per gram by 1.20 at 53.25 and spot gold price per kilo was higher by 1202.44 at 53254.50. Spot silver per kilo was green by 43.36 at 1309.82 and spot silver price per ounce was green by 1.44 at 40.74. Camillo Zucari
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