Prior to opening bell this morning, spot gold price per gram and spot silver
price per ounce trend-lines were moving through positive territory. Prior to
opening bell today, spot gold price per gram was higher by .10 at 55.40 and spot
silver price per ounce was higher by .81 at 32.31. Precious metal price trends
continue maintain attraction as a safe haven. The eurozone debt crisis that has
been ongoing leaves investors with a bad taste and pushed many to buy precious
metal safe havens as a way to gain tangible assets to balance out the volatile
potential of bonds, stocks, and cash. Recently though, gold has not pushed as
high as many would have expected considering the ongoing uncertainty stemming
from the turmoil in Europe. Some feel the stagnation with gold price simply
relates to price corrections. Regardless of the slowdown, precious metal gold is
still comfortably ahead for the year, as is precious metal silver. In fact,
world demand for gold is up overall. The World Council recently reported that
Europe purchased a record 6.2 billion in gold bars and coins during the third
quarter. It appears that precious metals still have some luster after all.
Camillo Zucari
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