Precious metal gold and silver contract prices dropped back below break-even
during the initial half of the last trading session. Gold prices and silver
prices have been dropping over the past several weeks and these negative trends
continued last session. Stock indices were losing steam as well however as
investors were feeling more anxious about the sovereign debt issues stemming
from the eurozone marketplace. Investors are worried that European leaders would
not take action quickly enough to avoid defaults. Most assumed that the safe
haven appeal of precious metal gold will grow in this climate. As the final
numbers came together for the end of day close, precious metals gold and silver
were in the red again. The three primary stock indices in the U.S. were red as
well. The Dow Jones closed out the last session lower by 179.79 at 11,010.90.
The dollar lost strength versus the euro and the Japanese yen. Contract gold for
December delivery closed out the last session red by 2.08 percent at 1618.10 per
troy ounce. December delivery silver moved lower by 4.45 percent at 30.13 per
troy ounce. Spot gold and spot silver prices moved below break-even as well.
During the interval after last session close but prior to todays open, spot gold
price per gram was lower by 1.90 percent and spot silver price per ounce was
lower by 1.96 at 29.53. Camillo Zucari
No comments:
Post a Comment