Gold prices moved higher last trading session as safe haven interest in gold
increased. Trends in the stock market have been negatively skewed and the last
week closed out in negative territory again. Investors are moving further away
from riskier stock assets and positioning more with precious metal gold. The Dow
Jones closed out last session lower by over 300 points. The DJIA, as well as the
Nasdaq and the S&P 500 finished off negative for the week overall. The Dow was
red by more than 2 percent last week overall and the price of gold contract went
green. Gold contract for December delivery finished the last session in positive
territory by .11 percent at 1859.50 per troy ounce. Silver though dropped lower.
Silver contract for December delivery dropped lower by 2.13 percent at 41.62 per
troy ounce. Gold is trending in positive territory over the course of the past
month. The negative trends in the stock market are helping to keep the yellow
metal aloft. The one month change status for gold is green by 5.06 percent.
Silver is doing just a bit better over the same course of time. Silver status
for the one month change is positive by 6.22 percent. Prior to opening bell
today, spot gold per gram and spot silver per ounce were trending negative. Spot
gold price per gram was lower by .24 at 59.45 and spot silver per ounce was
lower by .42 at 41.15. Camillo Zucari
No comments:
Post a Comment