Gold and silver contract made gains during the last trading session. Both
precious metal gold and silver price per ounce rates finished green as of last
session close in the U.S. Gold and silver settled higher, but this position was
not long lasting. The initial word spread that Italian Prime Minister, Silvio
Berlusconi, would resign and gold price pushed higher. Berlusconi felt forced to
resign as he was unable to acquire an essential majority in Parliament which led
to majority calls for his resignation. As investors processed this action, the
euro rose higher versus the dollar and gold price backed off. Prior to opening
bell for todays trading session, both spot gold price per gram and spot silver
price per ounce were trending lower. As the trading session in the U.S. reached
the mid-day mark, gold and silver contracts were posting lower. Contract gold
for December delivery was posting negative by .40 percent at 1792 per troy
ounce. Contract Silver for December delivery was lower by 1.26 percent at 34.71
per troy ounce according to mid-day electronic pricing. Spot gold price per gram
was red by .35 at 57.50 and spot silver per ounce was lower by .61 at 34.54.
Camillo Zucari
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