Gold and Silver Contract Close: Both gold and silver contracts finished the
last trading session of the week on the negative side of break-even for the day.
Gold and silver acquisitions have been minimized by the surging dollar. The
eurozone debt crisis is pressuring the precious metal marketplace right now and
weighing on precious metal gold and silver price trends. Contract gold for
February delivery finished the last trading session of the week lower by .30
percent according to electronic price which closed at 1617.40 per troy ounce.
Silver contract for March delivery finished the last trading session lower by
2.10 percent to close out at 28.70 per troy ounce according to electronic price
posting. Cash for Gold: Both precious metals price-trends have been negative
over the course of the last several weeks. According to one month change
analysis, precious metal gold price trend-line change is negative by
approximately 6.9 percent at this point in time. Although gold price trends have
been weighed down some recently, the price of gold over the past year is
decisively positive. With the price of gold at a relative high, many Americans
are deciding to try cash for gold options. The unemployment rate is above
average and people are selling off old scrap gold for needed cash. Recently,
reports out of Los Angeles have warned of the cash for gold trap. Some companies
are asking that you send your old scrap gold via mail and they will then cut and
send you the check. This ended badly for some that ultimately received a check
that seemed far below their expectations. Sending gold for cash via mail could
be a risk in the current marketplace. Camillo Zucari
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