Although gold and silver contracts finished on the positive side of break-even
last session, spot gold and silver prices were trending negatively prior to
opening bell this morning. Even with progressive action being observed in the
eurozone relevant to debt default action plans, the euro is still tracking on
inconsistent ground. The dollar has been gaining strength in the current
environment and as a result is pressuring gold price trends. Today, the dollar
was little changed versus the euro. As of the mid-day mark in the trading
session, contract gold and silver were still posting in the red. Contract gold
was red by .56 percent at 1702 per troy ounce and contract silver for May
delivery was posting at 34.21 per troy ounce. Spot gold price per gram and spot
silver price per ounce mid-day trend review: At the halfway point in the trading
session today, spot gold and spot silver price trend-lines were negative. Spot
gold per gram was posting red at 54.67 and spot silver per ounce was red at
33.68. As of the halfway mark, it appeared that gold and silver prices would
finished in the red to open the first trading session of the week. Camillo
Zucari
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