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dow2664 Gold prices just aren’t what they used to be. In fact, gold price per ounce rates haven’t experienced a drop off in prices like what’s being observed in the marketplace now in decades. Both Contract gold and contract silver finished out the week on the negative side of breakeven once again as the two precious metals followed the general stock indicators lower overall for the week. Investors were not swayed to position with the safe haven appeal of gold throughout the last week, even as stocks experienced a significant sell-off around mid-week. Most investors have concluded that precious metal gold has reached its relative peak and is overexposed in the short term. A correction is necessary before investors decide to position with the safe haven commodities once again. The corrections began this past week. Gold prices tumbled in noteworthy fashion on Thursday and Friday of this past trading week. Contract gold for December delivery finished out the last trading session red by 5.9 percent at 1639.80 per troy ounce. The last trading session of this past week denoted the first drop for gold prices over the 100 dollar mark in over 30 years. Contract silver for December delivery finished the day lower by 13.67 percent at 30.10 per troy ounce. Recent checks on spot gold and spot silver prices reveal negative action as well. Spot gold price per gram was trending red by 2.68 at 53.24 and spot silver price per ounce was trending red by 5.44 at 31.09. The DJIA finished the week lower by 738 points. It was also one of the worst weeks for the Dow in almost three years. Camillo Zucari
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