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dow2664 Gold and silver contract prices finished off in the red once again during the last trading session. Stocks fell off during the majority of the week and commodities like gold and silver precious metals followed. Trends in the U.S. market place moved decisively lower throughout the week. The primary onset for the stock sell-off initiated mid-week after the Feds announced that another QE3 would not be forthcoming. The news had global ramifications that were broad in stroke. Stocks ended on the negative side of break-even for the week, as did precious metals gold and silver. Contract gold for December delivery moved lower by 5.85 percent to close out the last session at 1639.80 per troy ounce. Silver contract for December delivery closed out the last trading session lower by 17.71 percent at 30.10 per troy ounce. The one month change for gold and silver continues to drop more negative. Gold’s current one month change status is negative by 10.18 percent. Silver’s one month change status is negative by 26.62 per troy ounce. After last session close, spot gold price per gram and spot silver price per ounce continued to move into negative territory. Spot gold price per gram was lower by 2.68 at 53.24 and spot silver price per ounce was lower by 5.44 at 31.09. Despite the negatively skewed economic news that has been transpiring on a global scale, gold’s safe haven appeal has attracted little attention. The drop in price for Gold last session was greater than any seen in decades. The economic uncertainty is not enough to stall the precious metal price correction. Camillo Zucari
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