Gold and silver contract price per ounce rates closed out the opening trading
session of the week on the negative side of break-even. Gold and silver prices
dropped lower as the inconsistency and uncertainty in the eurozone weakened the
euro. As a result, the dollar gained strength versus the euro and this applied
negative pressure to investor acquisition of gold and silver. Since many
investors purchase precious metal gold as a way to build investment stability
versus the weak dollar, gold investments sloped negatively due to the current
currency relationships. To open the trading week, gold finished the day lower by
9.70 to close out at 1778.40 per troy ounce. Silver contract for December
delivery finished red as well by .66 to close out at 34.02 per troy ounce. Prior
to opening bell this morning, stock futures were red in the U.S. and spot gold
and spot silver price trend-line presentations continued to move in negative
territory. As the trading session reached the mid-day mark in the U.S., the
primary indices were still red and precious metal gold and silver contracts were
presenting more positively. Gold contract for December delivery was green by .28
percent at 1783.40 per troy ounce according to electronic pricing approaching
mid-day. Silver contract for December delivery was better by 1.66 percent at
34.59 per troy ounce according to electronic pricing at this point. Spot gold
price per gram was green at this point by .07 at 57.25 and spot silver price per
ounce was green by .44 at 34.47. Camillo Zucari
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