Gold contract for December delivery opening the first day of trading this week
on the negative side of break-even. Silver contract for December delivery was in
the red as well according to opening session close. Investors continue to deal
with the negative pressure of the eurozone and U.S. debt crisis and the choppy
trends that are playing out in the currency market as a result. The dollar
gained versus a handful of other currencies once again last session and this
action negatively pressured precious metal gold and silver acquisitions. The
negative influence that the debt crisis is having on stock trends though helps
keep the safe haven appeal of precious metal gold on investors radar. Stock
tumbled approximately 2 percent last session in the U.S. and news from the
congressional supercommittee was negative as well. Today, the GDP report in the
U.S. was weaker than expected. This negatively skewed action could help support
precious metal gold rates. Prior to opening bell this morning, spot gold price
per gram was trending in positive territory. As the trading session reached the
mid-day mark in the U.S., precious metal gold and silver price trends were
positive. Electronic price for December delivery gold was positive by 1.02
percent at 1695.80 per troy ounce. Electronic price for December delivery Silver
was positive by 3.36 percent at 32.16. Spot gold price per gram was green at
this point by .60 at 54.56 and spot silver price per ounce was green by .11 at
32.53. Camillo Zucari
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