Stocks rallied during the last trading session as investors felt a sense of
renewed optimism regarding the economic progress in Greece. The stock indices
moved higher into the green and precious metal gold and silver prices closed out
the last trading session with floor prices on the negative side of break-even.
Gold contract for December delivery closed out the last session lower by .20
percent or 3.60 at 1826.50 per troy ounce. Silver contract finished with a floor
price lower by 1.60 percent or .66 at 40.53 per troy ounce. Gold and silver
prices are still trending on positive ground according to the one month change
data analysis. Gold is still positive during this time frame by 3.43 percent.
Silver is still positive 3.20 percent according to one month change data
analysis. After last session close but prior to opening bell this morning, spot
gold prices and spot silver prices were both trending in negative territory.
Spot gold price per gram was lower by .36 at 58.37. Spot silver price per ounce
was lower by .57 at 40.55. Safe havens gold and silver prices fell back as
investors felt more secure and confident with stock action last session. Gold
continues to be a popular bet during volatile times in the market and since
recent trends have been choppy and unpredictable, it is a safe bet to think that
gold and silver will continue to gain value. Camillo Zucari
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