Gold prices fell back last session but bigger news remained with stock action.
Gold and silver prices played their safe haven roles amidst the chaos that was
the stock market yesterday. It was a volatile and tumultuous trading session
that played out in the market place but gold and silver ultimately ended red.
The major index composites dropped off significantly last session. The DJI,
Nasdaq and S&P 500 all closed out the last session in the red. Specifically, the
Dow Jones Industrial Average finished the last session lower by 4.31 percent or
512.76 points to closed at 11,383.68. The S&P 500 finished lower by 4.78 percent
or 60.27 points to close out at 1,200.07. The Nasdaq finished lower by 5.08
percent or 136.68 points to close out at 2,556.39. Stocks dropped significantly
lower overall last session having their worst day since December of 2008. Gold
did touch a high of 1684.90 an ounce but ultimately ended lower on the day.
Contract gold for December delivery moved lower by 7.30 to finish off at 1659
per troy ounce. Silver contract finished off lower by 2.33 and closed at 39.43
per troy ounce. After session close, but prior to opening bell today, spot gold
and spot silver prices continued to move lower. Spot gold price per gram moved
lower by .62 at 52.86 and spot gold price per kilo moved lower by 619.22 at
52860.33. Spot silver price per ounce moved lower by 2.77 at 38.98 per troy
ounce and spot silver price per kilo was lower by 89.03 at 1253.17. Camillo
Zucari
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