Gold and silver price trend-lines have struggled recently as various global
market variables pressure the two precious metals. Both, contract gold and
contract silver, finished the last trading session in the U.S. with negative
close floor values. Contract gold for February delivery finished the last
session lower overall by .25 percent at 1613.60 per troy ounce. Silver contract
for March delivery finished the last session lower as well. Silver finished down
by .97 percent at 29.25 per troy ounce. The dollar gained strength versus the
euro and Japanese yen last session. This action added additional pressure to
gold and silver price trends during the session. The stronger dollar made it
less affordable for many to position with precious metals. The Philadelphia Gold
and Silver Index dropped .4 percent to 184.62 during the last trading session.
Investors moved to rid themselves of precious metal holdings last session and
there was a modest sell-off which took place during the session. One month
change analysis for precious metal gold remains negative at this point by 4.25
percent. Silvers one month change status remains negative as well at this point.
Camillo Zucari
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