Precious metal Gold and Silver Market Trends Today: Gold and silver price per
ounce trend-lines were pressured during the last five days of trading. Silver
price trends ultimately finished red last week overall and gold closed out the
week overall at about break-even. The positive price trends observed on the last
trading session of the week helped gold to close out the week just above
break-even for the week. According to floor price close postings, April contract
gold finished higher on the 23rd by 1.34 percent at 1662.40 per troy ounce.
Silver contract for May delivery finished the session on the 23rd higher by 2.96
percent at 32.27 per troy ounce. The positive close for gold and silver was not
enough to push both precious metals into the green for the week overall. Gold
closed just above break-even by .4 percent, but silver closed out the week
negative overall by approximately 1 percent. Both precious metals have recently
felt pressure stemming from the strengthening U.S. dollar. Fewer investors have
positioned with the safe haven precious metals as a result of the stronger
dollar. Price trends for both metals are negative over the course of the last
several weeks. Gold price trends are currently negative by approximately 6.4
percent according to current one month change analysis. Silver price trends are
currently negative by approximately 5.7 percent according to one month change
analysis. Investors will be interested to observe trends on the opening session
this week to see if the dollar continues to fall versus the euro and the British
pound. This action would motivate more investors to enter the safe haven metal
sector. Camillo Zucari
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