Gold and silver price corrections have been the name of the game over the last
several weeks. Investors perceived gold and silver as overvalued. The one month
change status for gold price per ounce trends and silver price per ounce trends
is negative as a result. Still though, when viewed from a broader perspective,
gold and silver price per ounce rates are distinctively positive. The global
marketplace is positioning now and indicators seem skewed towards the positive.
Global indices moved higher last trading session. Progression is being observed
in the talks centering around bailout action planning in Europe. There has even
been more talk in the U.S. regarding another potential round of economic
stimulus. This action could be positive for gold as it would associate with
inflation potentials and currency debasement. Both of these variables could
reignite interest and safe haven appeal for precious metals gold and silver.
Spot gold price per gram and spot silver price per ounce trend line movement was
positive prior to opening bell this morning in the U.S. As the session reached
the halfway point today, gold and silver price rates were trending on positive
ground. Gold contract for December delivery was higher by 1.34 percent at 1658
per troy ounce. Silver price per ounce was higher by 1.66 percent posting an
electronic price of 31.71 per troy ounce at the mid-day mark in the U.S. Spot
gold and spot silver prices were also moving higher at this point in the
session. Spot gold price per gram was higher by .50 at 53.10 and spot silver
price per ounce was higher by .44 at 31.64. Camillo Zucari
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