Gold and silver contract prices closed out in negative territory last session.
Gold contract for February delivery finished red by 10.50 at 1739.80 per troy
ounce and silver contract for March delivery finished lower by .05 at 32.76 per
troy ounce. Prior to opening bell this morning, spot gold price per gram and
spot silver price per ounce trend-line movement pushed positively however. One
month change status for Gold is now positive by approximately 1.8 percent and
the one month change status for silver price is tracking higher and approaching
break-even. Positive action today could push the one month change status for
both gold and silver into the green. Support for gold and silver could initiate
via the observed dollar trends yesterday. The U.S. dollar dropped .2 percent
against a basket of foreign currencies and the euro advanced .2 percent against
the dollar. A stronger euro could equal increased precious metal purchasing. As
the trading session reached the mid-day mark, gold and silver contract prices
were in the green. Gold for February delivery was higher by .62 percent at
1750.50 per troy ounce. Silver for March delivery was higher by .09 percent at
32.79 per troy ounce. Spot gold price per gram was trending higher at this point
as well by .30 at 56.09. Camillo Zucari
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