Contract gold finished last session at 1751.30 per troy ounce which was an
increase of approximately 3.8 percent over gold price just one week prior. For
the year, as of the last full day of trading close, gold price was trending
higher by approximately 23 percent. Gold acquisitions received support over the
past week, due in part, to the drop in the value of the dollar. The U.S. dollar
index dropped lower by approximately 1.4 percent over the course of the past
week. The weaker dollar makes precious metal acquisitions cheaper for many
investors utilizing foreign currency. In addition to this support, precious
metal gold price trend was bolstered by the European Central Bank action. Gold
prices responded favorably as the European Central Bank posted plans to inject
money into the International Monetary Fund to support the economies of eurozone
economies. Prior to opening bell this morning, spot gold price per gram and spot
silver price per ounce price trend-lines were both moving negatively. As the
trading session in the U.S. reached the mid-day mark today, spot gold price per
gram was red by .41 at 55.75. Spot silver price per ounce was red by .11 at
32.51. Contract gold for February delivery was lower by .38 percent at 1744.70
per troy ounce according to electronic price post. Silver contract for March
delivery was green by .21 percent at 32.76 per troy ounce according to
electronic price post at mid-day. Camillo Zucari
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