Gold Price and Silver Price Market News Week Ended Feb. 10 2012: The U.S.
dollar rallied during the last week of trading while the euro was pressured by
the ongoing debt resolution struggles ongoing in the eurozone. Concerns grew
regarding Greece as many felt that leading officials would be unable to
compromise on austerity measures. This action pressured the euro and the dollar
gained strength. Gold price dropped lower in significant fashion as world stock
and commodity markets fell back. Precious metals gold and silver were pressured
in this environment and price trend-lines for both metals dropped lower during
the last week of trading. Precious metal gold dropped lower for the week ended
Feb. 10 by approximately .9 percent. Contract gold for April delivery finished
the last session on the 10 lower by approximately $15.90 to close the week at
1725.30 per troy ounce. Silver price trend-lines moved negatively over the
course of the last week overall as well. March contract silver finished Feb. 10
lower by .9 percent and closed the day at $33.60 per troy ounce. Silver price
trend-line sloped negatively over the course of the week as a whole by
approximately .4 percent. The week was a loser for precious metal gold and
silver and the losses mounted for a second consecutive week. Gold and silver
posted back to back weekly losses. Gold price and silver price one month change
analysis, one year price trend-line change analysis current: Although gold and
silver dropped lower for the last session and week overall, both metals post
price-line trends at this point which are positive over the course of the past
month and year. According to one month change analysis, gold price trend-line is
positive by approximately 4.8 percent at this point and gold price trend-line
change over the course of the year is positive by approximately 26.8 percent at
this point. Silver price trends are positive during this time frame as well.
According to one month change analysis for silver, price trend-line slope is
positive for the silver metal by approximately 11.6 percent. Price trend-line
analysis for silver slopes positively over the course of the year right now by
approximately 10.5 percent. Although gold and silver have posted weak trends
over the last two weeks, many investors still feel bullish due to the perceived
fragility in the global economic environment. Investors will diversify away from
the dollar and flat based currency investments and this action will often
support precious metal gains overall. The positive one month and one year price
trend-line change for precious metal gold and silver represents this mode of
thought sufficiently. Gold and silver remain in the green when viewed from this
broad perspective. Camillo Zucari
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