Precious metal investors continue to wait for the floor. Precious metal prices
have been undergoing a process of correction as of late and metal investors hope
to see commodities rebound during the month of October. Even though September
was generally a negatively skewed month for stocks, the safe haven appeal of
precious metal gold was held at bay. Many think that both precious metal gold
and silver were previously overinflated and that the corrections were
inevitable. Corrections occurred throughout the month of September and many are
hoping the safe haven appeal that gold and silver commonly retain will rebound
in October. If this happens, it could be a big month for the precious yellow
metal in October. Economic worries in October will continue. These worries
pertain to the ongoing debt crisis in Greece and Europe. Negative manufacturing
data stemming from Chinas market could weigh heavily on market action in October
as well. The upcoming jobs and unemployment report posting this Friday will play
out big in the hearts and minds of investors. All of these variables could
support safe haven acquisitions. As it stands, spot gold and spot silver prices
are mixed. Spot gold price per gram was higher by .19 at 52.13 and spot silver
price per ounce was lower by .57 at 29.90. Gold contract finished the last
session green by .29 percent at 1622 per troy ounce and silver finished lower by
.43 percent at 30.39 per troy ounce. Camillo Zucari
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