Gold Price Market Overview: Although the euro gained on the dollar and the
dollar lost value to a handful of other currencies last session, gold prices
notched lower on the day. The inverse relationship between the dollars value and
gold value was not as marked during the last session and ultimately the precious
metal finished the trading session below break-even. In addition to the
weakening dollar, gold price trend-line was responding to other economic data
that posted last session. One sign of the U.S. economic progression is the
improving jobless claims data. According to the government statistics,
approximately 352,000 Americans applied for initial jobless claims last week.
This number represented the fewest number of claims since the summer of 2008.
This positively skewed data makes the safe haven appeal of precious metal gold
less attractive. Ultimately, gold closed the session in the red. Silver dropped
lower on the day as well. Price of Gold and Price of Silver Contract Close: Gold
contract for February delivery finished the last session red by .33 percent and
closed out at 1654.50 per troy ounce. Silver contract finished the last session
red by .11 percent at 30.51 per troy ounce. Spot gold per gram and spot silver
per ounce: After last session close and prior to opening bell today, spot gold
and spot silver price trend-line movement was mixed. Spot gold price per gram
was negative by .10 at 52.37. Spot silver price per ounce was green by .04 at
30.58. Camillo Zucari
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