Precious metal gold and silver prices continue to trend lower. Contract gold
and silver closed out the last week in negative territory as did spot gold price
per gram and spot silver price per ounce. The safe haven appeal of precious
metals has diminished over the last several weeks as many investors believe that
prices in the sector have ballooned and are overstated. Gold and silver prices
have been moving in a negative direction as corrective pressures affect trends.
Precious metal gold prices have dropped lower by 6.24 percent according to
one-month change tracking. Silver prices have dropped to an even greater degree
over the same time frame. According to one month tracking analysis, silver price
has dropped lower by a more significant 24.44 percent based as of the one month
overview. The most recent negative action occurred last session on Friday.
Specifically, gold plunged by over 100 dollars. This was significant in that a
drop this severe hasnt been seen since 1980. Prior to opening bell this morning,
spot gold and spot silver prices continued to trend in negative territory. Spot
gold price per gram was lower by .03 at 52.63. Spot gold price per kilo was
lower by 25.40 at 52627.88. Spot silver price per kilo was lower by .43 at 29.63
and spot silver price per ounce was lower by 13.87 at 952.58.
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