Gold prices moved higher last session as the stock indices in the U.S.
plummeted. Stocks were pushed lower by the growing sovereign debt crisis in
Europe and it continues to affect markets negatively today. Indices in the
global marketplace were lower this morning and stock futures in the U.S. were
not immune. The DJIA, Nasdaq and S&P 500 futures were all positioned lower as
the trading session was about to open today. Prior to opening bell this morning,
spot gold and spot silver continued to trend in negative territory. As the
trading session reached the halfway mark, stock indices were still trending in
the red. Global fears continue to exert negative pressure on the index trend
lines as the session moves forward. The Dow Jones is negative by over 78 points
at this point in the session. Spot gold and spot silver prices were still in the
red. Spot gold price per gram was negative at this point by .78 at 58.91 and
spot silver price per ounce was still negative by 1.04 at 40.53. Electronic
prices for contract gold and silver were trending lower at this point as well.
Electronic price for Silver contract for December delivery was lower by 1.82
percent at 40.86 per troy ounce. Electronic price for contract gold for December
delivery was lower by 1.20 percent at 1837.20 per troy ounce. The dollar was
edging higher versus the euro and British pound today. Camillo Zucari
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