Gold and silver contracts finished the last trading session in the green.
Contract gold for December delivery closed the last session higher by .28
percent at 1725.10 per troy ounce. Silver contract for December delivery
finished the last session higher by 2.92 percent at 32.42 per troy ounce. The
last session trends were a relief for precious metal gold as it had experienced
moderate sell-off pressure the previous two sessions. Even though precious metal
gold contract closed out the last session with a slight advance, overall price
trends were negative for the last week as a whole. Gold is experiencing some
negative action in form of sell-offs initiated, in part, because of the
sovereign debt turmoil ongoing in the eurozone. The euro weakened more during
the initial half of the last trading week and this weakened investors ability to
position with safe haven assets like gold and silver. Gold and silver
commodities struggled last week while investors moved to liquidate in financial
markets. Investors were in cash raising mode and precious metal prices dropped
lower overall as a result. Recent trend-line movement for spot gold and spot
silver was posting positive price slope however. Spot gold price per gram was
higher by .10 at 55.40 and spot silver price per ounce was higher by .81 at
32.31. Camillo Zucari
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