Gold and silver price trend-lines were moving positively during the majority of
this past trading week. Both precious metal gold and silver rallied to bring
trend-lines above break-even for the month of October. The momentum gained
through the majority of this past trading week was not sustained during the last
trading session however. Precious metal gold per ounce rates were dropping lower
throughout the day. The dollar ended the day stronger versus the euro and stock
indices ended their respective session in the U.S. generally flat-lined.
Ultimately, gold rates closed below break-even for the day but silver rates
stayed green. Contract gold for December delivery finished the day in the red by
.03 percent at 1747.20 per troy ounce. Silver contract for December delivery
pushed higher by .50 percent at 35.29 per troy ounce. Similar trend-line
movement is observed via spot gold and spot silver data analysis. After last
session close, spot gold price per gram continued to trend red by .15 at 56.04.
Spot silver price per ounce moved above break-even by .18 at 35.29. Overall for
the week, both precious metal gold and silver posted gains. Gold futures notched
higher by about 7 percent overall and silver climbed higher by about 13 percent.
Camillo Zucari
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