Even in the midst of an economic crisis, precious metal gold appears to be
wavering. Is gold experiencing a common correction or is it something more. Gold
price per ounce contract rates did finish the last trading session in the green,
but then pushed lower once again into the red during the first half of the
trading session today. Investors on Wall Street are dealing with a mixed bag of
economic data, more negative than positive at this point in time. Europe is
having its own troubles as the debt crisis continues to plague investors. The
primary stock indices are struggling and safe haven interest in precious metal
gold appears to be wavering. In an environment that appears prime to support
safe haven interest in gold, trends have been inconsistent. As the last trading
session in the U.S. wraps up for the week, the primary indices are in the midst
of a huge stock sell off and moving lower. The Dow Jones Industrial Average was
lower by over 300 points at 10,995.73 just prior to close. Precious metal gold
had turned green by .11 percent at 1859.50 per troy ounce. Contract silver was
lower by 2.13 percent at 41.62 per troy ounce. Spot gold per gram was just below
break even by .05 at 59.57 and spot silver per ounce was red by .90 at 41.58.
Camillo Zucari
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