Precious metal gold and silver contracts closed out the last session on
opposite sides of breakeven. Precious metal gold contract for December delivery
closed out with a lower price per ounce rate on the day by negative 9.80. Silver
contract for December delivery closed out with a higher price per ounce rate by
increasing .018 on the day. Price trends for both precious metal gold and silver
are remarkably negative during the past several weeks. The stock market has been
generally choppy and volatile due, in part, to the uncertainty surrounding the
European bailout action plan. Debt default continues to be a pressing issue in
the Eurozone and this weight has pushed primary stock indices lower on a global
scale. Safe haven appeal of precious metals has not flourished during this time
however. Corrections have occurred and thus gold and silver prices have dropped
lower. Prior to opening bell today for the U.S. trading session, spot gold and
spot silver prices were both pushing higher. Spot gold price per gram was higher
by .77 at this point and spot silver price per ounce was higher by .90 at this
point. As the trading session reached the halfway point today in the U.S., the
primary stock composites were pushing higher into the green. Investors were
feeling more confident that European leaders are reaching an agreement regarding
the action plan to avoid defaults in the eurozone. Gold contract price per ounce
rates were posting higher at mid-day. Gold price for December delivery contract
was green by 1.14 percent at 1680 per troy ounce. Silver contract for December
delivery was higher by 2.05 percent posting an electronic price of 32.66 per
troy ounce. Spot gold and spot silver were still higher at this point. Spot gold
price per gram is higher by .46 at 53.86 and spot silver price per ounce is
higher by .55 at 32.55. Gold prices are moving higher and ABX stock is
benefiting as a result. Barrick Gold Corp was green at mid-day by .21 percent at
47.95 according to MSN Money Stock Quotes. Previous close for Barrick Gold was
47.85. Camillo Zucari
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