Stocks rallied last session on increased optimism that progress was being made
in Greece. As the stock indices moved higher, the trends for precious metal gold
and silver moved in the opposite direction. Safe haven interest in the metals
decreased and thus closing price for the two metals ended up on the negative
side of break-even. Gold for December delivery was red by 3.60 at 1826.50 per
troy ounce. Silver contract for December delivery was red by .66 at 40.53 per
troy ounce. Stock futures this morning, prior to opening bell were positioned
for a positive open for U.S. stocks and thus precious metal gold and silver may
see similar trends today. Numbers were mixed however for spot gold and spot
silver prior to opening bell this morning. Spot gold and spot silver were moving
in divergent directions at this point in the day with gold still tracking red
and silver tracking into positive territory. Spot gold price per gram was still
lower by .47 at 58.15 but spot silver price per ounce was notching just green by
.01 at 40.47. Gold bullion prices last session settled at 1894.36 for the 1oz
American Eagle coin. The American Buffalo Gold Bullion Coin touched the same
price at 1894.36 per ounce. Camillo Zucari
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