October was a positive month overall for precious metal gold and silver price
per ounce trends, but the month closed out with pressure being applied to gold
and silver price trends. The Japanese government moved to devalue the yen and
this resulted in the dollar gaining strength versus a handful of other global
currencies. This action pressured safe haven gold and silver acquisitions and
the two precious metals ultimately closed out below break-even for the last
trading session in October. Gold for December delivery was lower by 1.26 percent
at 1,725.20 per troy ounce. Silver for December delivery was lower by 2.65
percent at 34.35 per troy ounce. During the interval between last session close
but prior to todays opening bell, spot gold price per gram and spot silver price
per ounce were moving below break-even. Spot gold price per gram was lower at
this point by .83 at 55.34. Spot silver price per ounce was lower by .99 at
34.30 at this same point. Overall for the month of October, gold finished higher
by approximately 6.3 percent. Silver finished off the month of October higher by
approximately 14 percent. For the YTD change gold and silver have made solid
gains. Golds YTD change is positive by about 28 percent and silvers YTD change
is positive by about 40 percent. Camillo Zucari
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