Gold and silver price per ounce rates were pushed lower once again last session
as the strength of the dollar notched higher versus a basket of other
currencies. The dollar has been higher versus other primary global currencies
since the latter half of last week when the Japanese yen was devalued. The
stronger dollar has pushed negatively on gold and silver acquisitions. Gold and
silver contracts closed out red to open the first day of trading in November but
prior to opening bell this morning, trend-line movement for spot gold price and
spot silver price was tracking on the positive side of break-even. The drama in
Greece is holding investor attention and making many worry about the stability
of the debt default action plan that leaders developed. As worry spreads, safe
haven appeal for precious metals increases. The dollar is coming off its high as
it paired gains versus other primary currencies. Gold and silver are beginning
to bounce back. As the trading session in the U.S. reached the mid-day mark,
contract gold and contract silver were on the rise. Gold contract for December
delivery was higher by 1.50 percent at 1737,50 per troy ounce. Silver contract
for December delivery was tracking higher at mid-day by 4.43 percent at 34.18
per troy ounce according to electronic pricing. At this point in the trading
session, spot gold and spot silver prices were tracking in the green. Spot gold
price per gram was higher by .99 at 56.03. Spot silver price per ounce was
higher by 1.61 percent at 34.34 as the session reached the mid-day mark. Camillo
Zucari
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