Gold and silver contracts closed out the last trading session lower overall as
precious metal shares retreated last session. Investor fears relevant to the
ongoing debt resolution crisis in Greece pressured markets and a broad based
sell-off ensued. Precious metal gold and silver price trends suffered as a
result. The sell-offs resulted in December contract gold closing out the last
session lower by .51 percent or negative 9.00 at 1756.10 per troy ounce. Silver
contract for December delivery finished the session red as well by 1.20 percent
or negative .414 to close at 34.08 per troy ounce. More important though in the
gold and silver market are the trends over the last several weeks. These trends
are decisively positive. The troubles stemming from the eurozone ultimately set
the stage for investor uncertainty. The fear of a potential debt default and
European recession reverberate on a global scale. The euro has been volatile
during the turmoil and investors are rethinking positions. The instability in
the euro is likely to motivate some to reposition with gold. The safe haven
appeal of precious metal gold and silver have helped trends stay positive over
the course of the past several weeks. As Greece continues to work out its
problems, investors will continue to seek out safe havens. Precious metal
commodities should continue to attract attention in the current market
environment. Camillo Zucari
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