Market Review; Gold and Silver Market News Today: Gold Price and silver price
trend-line movement were affected by the volatile marketplace last session.
Market volatility was heightened last session as word spread that Standard and
Poor was critically close to initiating downgrades for several eurozone
countries. Investors anxieties shot higher and primary stock indices fell lower.
The euro value dropped sharply as well. The eurozone and the euro are both
unstable right now in the current global market environment. Specifically, the
euro fell to a low not seen for the currency in over a year and a half. The
dollar gained strength as a result and the inverse relationship between the
dollar and precious metal gold was observed last session. Both precious metal
gold gold price and precious metal silver price fell lower on the day. The S&P
downgrades were made and 9 eurozone nations were affected. The primary stock
indicators in the eurozone and U.S. finished the last session red across the
board. Gold contract price per ounce close and Silver contract price per ounce
close review: Gold contract for February delivery finished the last session
lower by 1.03 percent at 1630.80 per troy ounce. Silver contract for March
delivery finished the last session red by 2.0 percent at 29.52 per troy ounce.
The price of gold and the price of silver suffered last session due, in part, to
the devalued euro. Spot gold price per gram trends spot silver price per ounce
trend review: After last session close, spot gold per gram and spot silver per
ounce price trends were running negatively. Spot gold price per gram was
negative by .29 at 52.69 and spot silver price per ounce was negative by .40 at
29.72. Camillo Zucari
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