Gold and silver prices ended the last trading session on the opposite side of
break-even. Gold dropped lower and silver finished off the day on positive
ground. The stock market in the U.S. ended the day on a sour note as investors
were unhappy with the news that spread at the conclusion of the Feds two day
policy meeting. Many were hoping that the Feds would offer something more
substantial regarding economic support. The Feds stopped short of offering
another round of quantitative easing and once news spread that QE3 was not on
the days menu of supports, the primary stock indices dropped off into the red.
Gold assets should begin to attract more attention in the current economic
climate. This was not evident last session though. Contract gold for December
delivery finished the last session lower by .06 percent at 1808.10 per troy
ounce. Silver contract for December delivery finished the last session higher by
.83 percent at 40.47 per troy ounce. Spot gold and spot silver were trending red
prior to opening bell this morning. Spot gold price per gram was lower by .72 at
57.38. Spot silver price per ounce rates were trending lower by .39 at 39.70.
The dollar finished the last session higher versus the euro, Japanese yen, and
British pound. Camillo Zucari
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