The primary indices finished the first trading session of this week sharply
lower and gold and silver contract price trend-lines dropped lower. A stock
sell-off ensued last session bolstered by fears that large U.S. banks, like Bank
of America, were at risk due to their ties and associations with the debt crisis
in the eurozone. The euro remained volatile last session and was pressured by
the ramifications of the debt crisis in general. As a result, the dollar grew
stronger versus the euro, the British pound and the Japanese yen, and this
action stymied precious metal gold and silver acquisitions. Both contracts
finished the last trading session in the red. Gold contract for February
delivery finished the last trading session lower by .08 percent at 1596.70 per
troy ounce. Silver contract finished the last trading session red by 2.69
percent at 28.87 per troy ounce. After last session close and prior to todays
session open, spot gold price per gram and spot silver price per ounce
trend-lines moved in divergent directions. Spot gold price per gram was posting
green by .06 at 51.36. Spot silver price per ounce was lower by .79 at 28.82 at
this point. Camillo Zucari
No comments:
Post a Comment