Contract gold and silver prices fell into the red once again last trading
session. Gold closed out at 1781.40 per troy ounce yesterday and silver closed
out at 39.50 per troy ounce. Stocks were in rally mode yesterday as positive
news spread regarding the support that central banks were willing to give to the
fledgeling European banking system. This news sent stocks higher, but also
pushed safe haven metals like gold and silver lower. Gold has been losing ground
lately. The one month change status for precious metal gold is negative by .36
percent. Silver is in the same boat. The one month change status for precious
metal silver is negative by .66 percent. Several hours prior to opening bell for
the last trading session of the week today, stock futures were dropping into the
red. They have since recovered. Spot gold and spot silver prices were climbing
into the green however at this point. By the mid-day mark of the trading session
today, the primary stock indices were trending in the green and gold and silver
prices were bumping higher as well. Electronic price for gold contract was
higher by 1.50 percent at 1808.10 per troy ounce. Electronic price for silver
was higher by 2.64 percent at 40.54 per troy ounce. Spot gold and spot silver
prices were higher at this point as well. Spot gold price per gram was higher by
.98 at 58.16 and spot silver price per ounce was higher by 1.19 at 40.64.
Camillo Zucari
No comments:
Post a Comment