Investors fled riskier stock options during the last trading session of the
week and positioned with perceived safe havens like precious metal gold. Gold
contract price per ounce rates moved up as the trends for the primary stock
indices in the U.S. moved lower. It was another down week for the primary index
composites in the U.S. The negative trends culminated yesterday as the three
primary composites went red across the board. The Nasdaq closed the session
lower by over 61 points at 2,467.99. The S&P 500 closed the week lower by over
31 points at 1,154.23. The Dow Jones Industrial Average closed lower by over 300
points at 10,992.13. The negative trends increased investor interest in safe
havens and gold contract ultimately moved higher on the day. Gold contract for
December delivery finished higher by .11 percent at 1859.50 per troy ounce.
Contract silver for December delivery finished the session red by 2.13 percent
at 41.62 per troy ounce. Spot gold and spot silver moved in similar directions
after session close. Spot gold price per gram was higher by .02 at 59.64 and
spot silver per ounce moved lower by 1.03 at 41.44. Primary indices in Asia and
Europe struggled during their respective session as well. Gold appeal moved
higher to end the week as major market composites fell below break-even. Camillo
Zucari
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