Gold price per ounce trending and silver price per ounce trending followed the
primary indices in the marketplace lower last session. A broad based sell-off
ensued one trading session after a short-term rally was sparked by positively
interpreted news out of the eurozone. Early last Friday, European leaders
emerged from the eurozone summit and announced that leaders would collaborate on
a plan to correct the eurozone debt crisis and stimulate the eurozone economy.
The plan is scheduled to be implemented in March and investors felt an initial
rush of increased optimism over the deal. Last session, the optimism faded and
broad based sell-offs ensued. Investor confidence faded as they questioned the
lack of plan details and regained perspective on the enormity of the task. The
eurozone debt crisis will be no easy fix. Both contract gold and contract silver
prices closed last session on the negative side of break-even. Prior to opening
bell this morning, spot gold and spot silver price trends were mixed. Spot gold
price per gram was tracking negatively and spot silver price per ounce was
tracking positively. As the trading session reached the mid-day mark in the
U.S., contract gold and silver prices were mixed. Electronic price for contract
gold was red by .14 percent at 1,665.90 per troy ounce. Electronic price for
silver was green by .91 percent at 31.28 per troy ounce. Spot gold price per
gram was higher by .37 at 53.26 and spot silver price per ounce was green by .09
at 31.10 at the mid-day mark today. Camillo Zucari
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