Gold Price per ounce rates were moving higher during the trading session today
amidst the negatively skewed economic reports that have been posting. Safe
havens like gold and silver contracts are notching higher this day as investors
on Wall Street attempt to process the weaker than expected economic reports
lately. Today, stocks were pushed lower by the consumer spending report that
revealed that spending was less. Consumer confidence is dropping and as a
result, spending is less. Many still fear that the economic recovery is not
moving along as it should and not growing at the rate that it should. The GDP
report that posted last week also portrayed this negative sentiment. The current
action in the marketplace is helping to fuel precious metal gold acquisition.
Gold futures hit another intraday high today at one point touching 1643.70 per
troy ounce. Currently, gold contract for December delivery is trading positively
by 1.25 percent at 1642.00 per troy ounce. Spot gold was moving in a positive
direction at this point as well. Spot gold price per gram was higher by .66 at
52.72 and spot gold price per kilo was higher by 663.27 at 52715.33. Gold prices
are flourishing as fears of an economic slowdown persist. Camillo Zucari
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