Gold and silver price per ounce rates finished on opposite sides of break-even
during the last trading session. Contract gold for December delivery was in the
red and contract Silver for December delivery was in the green. After last
session close, both spot gold price per gram and spot silver price per ounce
rates were trending in negative territory. This morning, prior to opening bell,
trend lines were moving in similar directions. both spot gold per gram and spot
silver per ounce were still moving in a negative direction. The global stock
market was struggling this morning however. Stock indices in the U.S. fell off
yesterday after news spread that the Feds would not be initiating QE3 at this
time. This morning, it was evident that this news was affecting the global
marketplace in a negative way. The primary indices in Asia finished the day with
losses, Europes primary stock indices started their respective sessions with
losses and stock futures in the U.S. were positioned for the lower open today as
well. Up to this point in the session, The Dow has lost over 300 points. The
environment is setting up as one in which safe haven appeal could grow. To some
surprise, contract gold and silver prices continued to trend in the red as
todays trading session reached the halfway mark. Gold contract for December
delivery was lower by 4.04 percent at 1735 per troy ounce. Silver contract for
December delivery was lower by 9.26 percent at 36.72 per troy ounce. Spot gold
and spot silver trends were also negative at this point in the session. Spot
gold price per gram was red by 2.28 at 55.78. Spot silver price per ounce was
red by 3.70 at 36.72 per troy ounce. Camillo Zucari
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