Gold and silver contract price per ounce rates dropped lower in noteworthy
fashion. Last session, precious metal gold and silver contract rates closed red
across the board. Gold contract closed lower by 54.10 at 1720.20 per troy ounce.
Silver contract finished the last session lower by 2.33 at 31.50 per troy ounce.
The winds of change blew through however and early morning trends today reveal
more positive trend-line movement for precious metal gold and silver prices.
Prior to opening bell today, spot gold price per gram and spot silver price per
ounce trend-line action moved on the positive side of break-even. It appears
that golds safe haven appeal remains attractive in the midst of the European
debt crisis. The dollar lost strength last session as well which is also helping
precious metal acquisitions increase. Overall however, gold wins out in the
global marketplace right now due to economic uncertainty. Debt default
potentials are high for numerous countries and investors fears relevant to these
potentials, not to mention the escalating debt crisis in the eurozone, continue
to drive investor choice. Safe havens like gold remain in favor during times
like these. Today, as the trading session reaches the mid-day mark in the U.S.,
precious metal gold and silver contracts were trending higher. Gold contract for
December delivery was green by .45 percent at 1728 per troy ounce and silver
contract for December delivery was green by 2.45 percent at 32.27 per troy
ounce. Spot gold per gram was trending lower at this pint though. Spot gold was
lower by .12 at 55.19 per gram. Spot silver price per ounce was higher by .36 at
31.85. Camillo Zucari
No comments:
Post a Comment