Gold and silver prices have both moved higher when viewed from a broad
perspective. The safe haven appeal of gold pushed it higher over the course of
the past year as the economies in the U.S. and the eurozone reveal various signs
of struggle. Gold pushed higher once again last week in response to the news
that the European Central Bank would move to inject money into the International
Monetary Fund. The eurozone countries are moving day by day through the
respective debt crisis. In contrast, the U.S. economy has received some better
than expected news recently. Retail sales during the holiday season have been
better-than-expected so far in the U.S. and future sales are expected to be
positive as well. Confidence in the current U.S. economy is improving and this
positively skewed action deflates the safe have appeal of gold a little for some
investors. As of the end of day close in the U.S., gold and silver price
trend-lines ended in the red. Gold contract for February delivery closed lower
by .96 percent at 1734.50 per troy ounce. Silver contract for March delivery
finished in the red by .96 percent at 32.37 per troy ounce. Spot gold price per
gram was lower by .88 at 55.29 and spot silver price per ounce was red by .53 at
32.10 after last session close. Camillo Zucari
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