Precious metal gold and silver prices moved higher to end the last trading
session. The stock market in the U.S. had some choppy sessions but ultimately
pulled off five consecutive days of positive close marks. The week ended with
investors experiencing an upswing in confidence due to the global news that
central banks would position to help support the inoculation of dollars into the
struggling European banking system. This news sent stocks higher to end the
week. Interestingly enough, gold and silver contract prices pushed higher as
well. It appears that enough investors still questioned the progress in the
eurozone and felt compelled to side with perceived safe havens. The movement
propelled gold and silver contracts into positive territory to close out the
week. Contract gold for December delivery closed out the last session of the
week green by 29.60 at 1814.70 per troy ounce. Silver contract for December
delivery closed out higher by 1.33 at 40.83 per troy ounce. The positive close
for gold prices helped push the one month change status for gold positive by
1.27 percent. Silvers boost last session did the same. Silvers one month change
status moved positive by .35 percent. Precious metals continue to attract
attention due to investor uncertainty. This past week was positive for stocks
but when one steps back, this past week could be more of an outlier. Gold and
silver prices benefit from the uncertainty. Last check on spot gold and spot
silver prices reveal green trends. Spot gold price per gram was posting higher
by 1.06 at 58.24 and spot silver per ounce was posting higher by 1.21 at 40.66.
Camillo Zucari
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