Gold and silver prices were soaring to new highs during the trading session
today. Economic news that posted earlier this day was weaker than anticipated
and this drove investing behavior. The national unemployment rate remained at
9.1 percent and the jobs created in July equaled half of what was expected. A
stock sell off initiated just after opening bell today, stock indices plummeted
after the jobs data posted and precious metals like gold and silver notched
higher. Gold price per ounce rates bumped up above the 1880 per troy ounce rate
as a result. As the end of day close approached for today, the primary stock
indices continued to trend in negative territory. The risk of the double dip was
tangible. As close neared, the Dow Jones was lower by 2.29 percent at 11,229.97.
Gold and silver contracts continued to go green today. Contract gold for
December delivery was higher by 2.24 percent at 1870 per troy ounce. Spot gold
and spot silver were green at this point in the trading session as well. Spot
gold price per gram was higher by 1.72 at 60.43. Spot silver price per ounce was
green by 58.45 at 1392.13 per troy ounce at this point in the afternoon. Camillo
Zucari
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