Gold and silver price trend challenges should continue this week. The two
precious metals are posting price trend-lines that slope negatively at this
point according to one week and one month change analysis. Investors will
observe the eurozone closely this week as there is above average speculation
that Standard & Poors will move to downgrade governments in the area. 15 members
that share the euro are being evaluated and as a result, the euro currency could
experience negative ramifications. The euro dropped below a key level last week
versus the U.S. dollar. It dropped below the 1.30 mark during last trading week.
The euro pressure could also pressure precious metal gold and silver
acquisitions. As the trading session reached the mid-day mark in the U.S. today,
precious metal gold and silver contract prices were posting in the red. Gold
contract for Feb. Delivery posted red by. 26 percent at 1593.80 per troy ounce.
Silver contract for March delivery was posting red by 2.87 percent with an
electronic price of 28.82 per troy ounce. Spot gold and spot silver price
trend-lines were negative at midday as well. Spot gold price per gram was
negative by .17 at 51.13 and spot silver price per ounce was negative by. 79 at
28.82 at mid-day. Camillo Zucari
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