Gold and silver rates are in rally mode this week. Even with the dollar gaining
strength last trading session versus the euro, gold and silver still prevailed.
A noteworthy stock sell-off was observed during the final minutes of the last
trading session and pushed the primary stock composites in the U.S. to their
lowest respective points of the day. Investors are uncertain how to process the
global economic environment right now as Europe attempts to work its way further
from debt default. Default could have numerous negative ramifications for the
global marketplace and thus investors are searching for safer bets. The safe
haven appeal of precious metal gold and silver is attracting attention during
this economically uncertain time. Both gold and silver contract closed on the
positive side of break-even once again during the last trading session. Both
gold and silver price trends have turned positive according to one month change
status. Prior to opening bell this morning, spot gold price per gram and spot
silver price per ounce trends continued to move in the green. As the mid-day
mark of todays trading session approached, the primary indices in the U.S. were
mixed. The Nasdaq and S&P 500 were moving below break-even. Gold and silver
price trends were still positive. Gold contract for December delivery was higher
at this point by 1.45 percent at 1725 per troy ounce. Silver was higher by 1.676
percent according to electronic posting. Spot gold per gram was moving higher at
this point as well. Spot gold per gram was higher by .47 at 55.14 and spot
silver price per ounce was higher by .29 at 33.34. Camillo Zucari
No comments:
Post a Comment