Gold prices moved higher as did the primary stock index composites during the
last trading session in the United States. The significant drop off for stocks
on Monday was followed by an almost-as-significant rebound yesterday. The DJIA
responded last session by gaining almost 430 points. All three major stock
indices finished the day in the green but investors are still concerned. The
major issues of provocation pertain to the credit downgrade and the continuing
problems stemming from the Erozone debt crisis. The dollar settled lower versus
the euro and this helped fuel the safe haven acquisitions of gold last session.
Gold even hit an intraday high at one point by touching the 1782.50 per troy
ounce rate. Gold attracted the attention and silver dropped lower again. Gold
contract for December delivery closed higher by 1.74 percent at 1743.00 per troy
ounce. Silver contract for September delivery closed in the red by 3.80 percent
at 37.88 per troy ounce. Contract gold and silver price per ounce rates moved in
divergent directions last session as did spot gold and spot silver prices. Spot
gold price per gram moved higher by 1.50 at 56.48 and spot gold price per kilo
was higher by 1497.79 at 56481.79. Spot silver price per ounce moved lower by
.99 at 38.39. Camillo Zucari
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