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dow2664 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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