The market experienced broad based sell-offs to open the trading week. Gold and
silver prices dropped lower, along with the primary stock indices that day. Gold
futures posted noteworthy losses. The U.S. dollar gained strength versus a
basket of other currencies to open the week and this action pressured precious
metal gold and silver acquisitions. The euro weakened as investors began to
question details, or lack thereof, of the plan the was announced by European
leaders last week. European leaders emerged from the eurozone summit last Friday
and announced that they would bond together to take corrective measures to
ameliorate the problems that have been plaguing the economy. Little, by way of
comprehensive detail, has surfaced and investor confidence has diminished. The
euro weakened as a result. Contract gold price and contract silver price
finished the last trading session mixed. Contract gold for February delivery
finished the last session red by .31 percent and posted a floor price at 1663.10
per troy ounce. Silver contract for March delivery finished the session green by
.83 percent and posted a floor price at 31.26 per troy ounce. Spot gold and spot
silver prices were moving negatively after last session close . Spot gold price
per gram was red by 1.08 at 52.55 and spot silver price per ounce was red by .09
at 30.91. Camillo Zucari
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