Gold and silver prices received additional attention due to a negative trading
session in the U.S. As the stock indices in the U.S. moved lower, price per
ounce rates for contract gold and silver moved higher. Safe haven interest for
precious metals gold and silver increased on a day when economic reports were
mixed and stock indices ultimately dropped lower overall. It was an up and down
trading session in the U.S., but the negatively skewed posts eventually applied
more negative weight then investors could bear. The Dow Jones Industrial
Average, as well as the Nasdaq and the S&P 500, closed out the last session red.
Specifically, the Dow Jones Industrial Average closed out red by 1.04 percent at
11,295.81. Initial jobless claims posted higher than many anticipated. This post
added to the general worry investors maintain regarding the economic progress in
the U.S. As a result, investors positioned more with safe havens. Gold contract
for December delivery finished the last session higher by 2.20 percent at
1857.50 per troy ounce and contract silver for December delivery moved higher by
2.16 percent at 42.53 per troy ounce. After last session close, but prior to
todays session open, spot gold and spot silver pushed further into the green.
Spot gold per gram was higher by 1.41 at 59.73 and spot silver per ounce was
higher by .67 at 42.24. Camillo Zucari
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