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Tuesday, March 13, 2012
Indian Funds Best Gold Deal as Producers Trail: Riskless Return
hour ago As investors from George Soros to John Paulson snapped up bullion amid
a decade-long rally, the best gold investment of the past two years was found in
India, where funds tracking the metal surged while avoiding the stock market
swings that hurt mining ...
Nordgold to invest $800m through 2015 to boost output, reserves
12, 2012 London-listed Nordgold has announced plans to invest $800 million
through 2015 to increase reserves and boost output almost 60%. Nordgold NV
(NORD), the Russian gold mining company spun off from OAO Severstal (CHMF) this
year, plans to double reserves ...
The Gold Price Remains Bullish as Ever Despite Drops
Today : 3354.40 Change : 17.0 cents or 0.51% Gold Silver Ratio Today : 50.492
Change : -0.422 or -0.83% Silver Gold Ratio Today : 0.01981 Change : 0.000164 or
0.84% Platinum Price Close Today : 1683.00 Change : -19.00 or -1.12% Palladium
Price Close Today : 701.90 Change : -7.10 or -1.00% S&P 500 : 1,395.96 Change :
24.87 or 1.81% Dow In GOLD$ : $160.84 Change : $ 3.19 or 2.02% Dow in GOLD oz :
7.780 Change : 0.154 or 2.02% Dow in SILVER oz : 392.85 Change : 4.53 or 1.17%
Dow Industrial : 13,177.68 Change : 217.97 or 1.68% US Dollar Index : 80.22
Change : 0.330 or 0.41% I reckon after big drops today in the silver and GOLD
PRICE I'll have to re-examine all that optimism I sported yesterday. Let's see .
. . Yep, I've re-examined and I am as bullish as ever on silver and gold. I will
even explain how, a little later. However, bear in mind that I warned yesterday
this would be a toilsome week for silver and gold. Apparently somebody sent out
a world-wide announcement today saying "Buy stocks and sell silver and GOLD at
3:00 p.m. Eastern Daylight Time." That's about when the panic hit the gold
market. The GOLD PRICE had closed at $1,693.70, not bad after a $1,685 low, but
at a little after 3:00 the bottom dropped plumb out, taking gold from $1,680 to
$1,665 faster than a car window will suck a $100 bill out a window when you're
doing 80 miles an hour on the interstate. Gold bounced on that right cheerily,
about like Play-dough bounces, up to $1,675-ish. Fess up, it's a new low for the
week, which will suck gold down toward $1,640. If that breaks, chart offers no
comfort and support before $1,550 - $1,525. One more push down is in the deck,
to finish the correction off the February 29 high. This shouldn't last more than
a week, 10 days. The SILVER PRICE chart doesn't quite match gold's, although it
also shows a fast drop after 3:00 pm.. Low came later as it fell fast in the
aftermarket, as low as 3296c. Comex actually closed UP 17c at 3354.4c, so it
appeared we'd have another of those one-metal-up/ other-metal-down days that
lately presages an up day for both following. Not today. Silver reeled like an
punchy old boxer hit with brass knucks. This is getting serious today -- if
silver lets go of its hold on 3300c, then look for 3183c, maybe 3150c. Now y'all
are scratching your heads wondering what possible Ace in the Hole I might be
holding to support my bullish outlook. I believe that silver and gold are
putting the finishing touches on upside- down head and shoulders pattern that
foretell LARGE rallies. Also, I have been pondering silver's 300 day moving
average, checking that against the ancient days of this bull market, and it is
flashing a green light. But what do I know? I'm the Tennessee fool who thought
yesterday that stocks were about to drop against gold and silver. Now I am not,
I promise going to dredge up all the fundamentals -- the inflation, the bad
investment not yet liquidated, all the debt, the Moe-Rons running things -- that
doom stocks and smile on silver and gold. I'm not even going to say, as I
usually do, that the news for stocks is about as good as it gets. Naw, if I said
any of that it would just sound like exculpation or self-justification, and I
personally would rather wait for events to unfold and show y'all that all by
themselves. Shucks, I don't know hardly anything. When you talk about buying
stock, all I can think of is rare pigs. One thing you learn from studying
history is that DISCONTINUOUS EVENTS -- those great rifts that divide ages and
forever change the world from the bottom up -- don't happen very often. Most of
the time, today passes about like yesterday did, but every once in a while,
something happens, at first perhaps insignificant, that changes everything. Keep
trudging, O Weary Americans, the gate to Schlaraffenland, the land where nobody
has to work, the beer is free, and the roast chickens fly into your mouth under
their own power, lies right around the bend, our Leaders and Gurus assure us.
Markets certainly can keep you humble -- several times a day. Hard on the heels
of my expectation that stocks would begin underperforming gold and silver,
stocks rose mightily and silver and gold fell sharply. I reckon I DO look like a
natural born fool. But only for a little while. Veritas temporis filia. Stocks
broke through the 13,000 barrier like thirsty longhorns stampeding to an alkali
pond. Couldn't stop em if you tried. Dow gained 217.97 points or 1.68%. (I can't
remember -- one of y'all remind me -- what day was it the Dow FELL 203.66
points. Was that 6 March?) S&P500 rose 1.81% or 24.87 points to end at 1,395.96.
About 100 points of today's rally came after 3:00 p.m. From 10:00 to 3:00 the
Dow gained from 13,000 to 13,100. Tail end of the day, the last hour, it jumped
another one hundred points. News says stocks had been buoyed by good retail
sales reports (government numbers -- need I say more?), then the Bernancubus'
open market committee voted to keep interest rates near zero, yakka-yakka-yakka.
Today some say the market interpreted all this as meaning more liquidity,
a.k.a., printing more money, but if the market's expecting more inflation out of
the Fed, why did the dollar rise and silver and gold sink all while stocks rose?
Blub, splutter, I don't know, they have to say. Well, at least charts don't
prevaricate much, so let's look at them. The Dow traced out a bearish rising
wedge, fell out of it downside as the pattern foretells, then against all
expectation turned and crossed above its 20 DMA and broke out above last May's
high. What can I say? The chart lied. It's headed higher, maybe to 14,000,
floating on a sea of fresh money. Besides, if it reaches 14,000, it will almost
reach the inflation-adjusted value of January 2000. Friends, I'm going to snatch
victory out of the jaws of defeat, or die trying. US dollar index ought to have
surprised no one today when it gained 33 basis points (0.42%) to 80.22. 79.90
now will pitch in with strong support while the dollar heads for 82 and above.
Higher close tomorrow confirms that upward intention, as it will close above the
last high for two days. The yen and euro bowed courteously to the dollar and
fell 0.52% to $1.3086 and 0.81% to 120.56 cents (Y82.95). New low for the yen,
with no discernible bottom. At least the euro probably won't fall much below
$1.2900. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2012, The
Moneychanger. May not be republished in any form, including electronically,
without our express permission. To avoid confusion, please remember that the
comments above have a very short time horizon. Always invest with the primary
trend. Gold's primary trend is up, targeting at least $3,130.00; silver's
primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend
is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or
US$-denominated assets, primary trend down; real estate bubble has burst,
primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use
these commentaries to trade futures contracts. I don't intend them for that or
write them with that short term trading outlook. I write them for long-term
investors in physical metals. Take them as entertainment, but not as a timing
service for futures. NOR do I recommend investing in gold or silver Exchange
Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or
another may go up in smoke. Unless you can breathe smoke, stay away. Call me
paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading
futures options or other leveraged paper gold and silver products. These are not
for the inexperienced. NOR do I recommend buying gold and silver on margin or
with debt. What DO I recommend? Physical gold and silver coins and bars in your
own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose.
The Gold Price Nearly Touched the Crucial Resistance at $1,705 Needs to Close Above $1,715
Today : 3378.90 Change : 24.6 cents or 0.73% Gold Silver Ratio Today : 50.256
Change : 0.073 or 0.14% Silver Gold Ratio Today : 0.01990 Change : -0.000029 or
-0.14% Platinum Price Close Today : 1663.00 Change : 28.75 or 1.76% Palladium
Price Close Today : 708.00 Change : 19.50 or 2.83% S&P 500 : 1,365.91 Change :
13.28 or 0.98% Dow In GOLD$ : $157.13 Change : $ (0.50) or -0.32% Dow in GOLD oz
: 7.601 Change : -0.024 or -0.32% Dow in SILVER oz : 382.02 Change : -0.70 or
-0.18% Dow Industrial : 12,907.94 Change : 70.61 or 0.55% US Dollar Index :
79.23 Change : -0.485 or -0.61% The GOLD PRICE pushed nearly to the crucial
resistance at $1,705 with a $1,703.80 high today. Closed below the $1,700 at
$1,698.10 on Comex, up $14.80. Even if the GOLD PRICE climbs to $1,715 it won't
convince me that it has completed its correction. Nope, it would have to close
ABOVE $1,715, maybe $1,725. The SILVER PRICE didn't gain as much as gold today,
so the GOLD/SILVER RATIO rose from 50.183 to 50.256. That non-confirmation
itself jaundices the eye. Silver added 24.6c to close Comex at 3378.9c. It
bounced to 3415c, but resistance at that height wrestled silver back down to
that 3378.9. Above 3400c more resistance awaits, stoutly armed, at 3450c. What
if I am wrong? Well, in that alternate universe silver has only corrected back
down to and slightly violated that down trend line it broke through in
mid-March, and day before yesterday's low just above the 50 DMA played out the
oft-seen touchback ("Final Kiss Good-bye") that proves the breakout. Possible,
but I can't get into that universe from here. The chart and my suspicion are
jamming my de-materializer. Unlike some folks, I don't mind saying "I told y'all
so" especially when it concerns rotten parasites in banking and government. CNBC
on 6 March reported "Huge Spike in Repeat Foreclosures." "Thousands of
foreclosures that were stuck in process due to delays over the so-called
'Robo-signing' paperwork scandal are working their way through a revamped
banking system and heading toward final bank repossession." When the state
attorneys general announced their big compact with the big banks about
robo-signing, which the banks signed so they could re-create mortgage documents
they lacked for foreclosure, I told y'all that it was a deal of, by, and for the
banks. They gave up a piddling $2,000 a head to those they had wronged, and in
return got government- encouraged rewriting of mortgages to perfect their bad
title. Thus were the mortgagees lured to their doom. Foreclosure surged 28% in
January. Only one question remains, Were the attorneys general snookered, or
corrupted? Odd, odd, 5 day gold and Dow charts share a resemblance, so I reckon
I am going to have to tell y'all to listen to what I mean, not what I say.
Yesterday I made much of stocks' and gold's and silver's failure to rise above
their breakdown points as proof they were in trouble, but today they rose into
those areas. Does that disprove my argument? Not in my view. Markets can ease up
into that area where they broke down, and still follow through downside. They
can even keep on rising above the breakdown, and leave behind a deadly double
top, an even surer sign that they will drop more. Okay, so interpreting a chart
is an art. When I paint y'all a picture, I don't always have time to tell you
how to wash out the brush. Start with stocks. On a five day chart they today
rose through the 12,850 area I mentioned yesterday. Dow added 70.61 points to
close 12,907.94 (0.55%). That's still below the breakdown at 12,950 (exactly),
and might become only a double top by reaching for 13,000. Why would I look for
a double top? Context. Background. This break and recovery is played out against
an aging (since 1 October 2011) rally, that (2) built into a large, VERY bearish
rising wedge. It asketh a whole lot to expect a market that long growing
overbought to extend a rally. Add (3), the Dow today closed below its 20 day
moving average (12,915.74). Any way you cut it, it's over for the Dow for a
while. S&P500 tagged along, rising 0.98% (13.28) to 1,365.91. Y'all watch: truth
is the daughter of time. The US DOLLAR INDEX lengthened its correction by
dropping a meaty 48.5 basis points (0.62%) to 79.227. Dropping below 79.30 was
sloppy, and a low at 79.163 looks positively slovenly. But what is the dollar
trying to protect? Really just that 79.00 psychological support and the 20 DMA
(79.06). It will probably hold and the dollar will resume advancing. What goosed
stocks today and the euro with them? The deadline for the elusive Greek Debt
Deal passed with a "majority" of investors signing on. Thus the world waxes
again optimistic, until the Deal comes unglued again, as 'twill, and soon. Euro
gained 0.92% (big for a currency) to 1.3270. Here's another reason why I
wouldn't trade currencies even with your money, because this reaction is wholly
irrational. BWDIK? Not a single currency in the world is worth backed by as much
as a bus token. The wave of schizo-optimism pushed traders out of the yen today.
It dropped 0.58% to 122.62c/Y100 (Y81.55/US$1). Looks looney. Two gappy
reversals in three days. Help. Argentum et aurum comparenda sunt -- -- Gold and
silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com
© 2012, The Moneychanger. May not be republished in any form, including
electronically, without our express permission. To avoid confusion, please
remember that the comments above have a very short time horizon. Always invest
with the primary trend. Gold's primary trend is up, targeting at least
$3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66;
stocks' primary trend is down, targeting Dow under 2,900 and worth only one
ounce of gold; US$ or US$-denominated assets, primary trend down; real estate
bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and
warned: Do NOT use these commentaries to trade futures contracts. I don't intend
them for that or write them with that short term trading outlook. I write them
for long-term investors in physical metals. Take them as entertainment, but not
as a timing service for futures. NOR do I recommend investing in gold or silver
Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one
or another may go up in smoke. Unless you can breathe smoke, stay away. Call me
paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading
futures options or other leveraged paper gold and silver products. These are not
for the inexperienced. NOR do I recommend buying gold and silver on margin or
with debt. What DO I recommend? Physical gold and silver coins and bars in your
own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose.
Express Scripts Trying To Close Medco Deal
proposed deal with Medco. Express Scripts Trying To Close Medco Deal The
pharmacy benefits manger Express Scripts (NASDAQ:ESRX) announced that it has
been working with Federal Trade Commission to close the proposed merger deal
with rival pharmacy benefits manager Medco Health Solutions. The
Express Scripts Trying To Close Medco Deal
proposed deal with Medco. Express Scripts Trying To Close Medco Deal The
pharmacy benefits manger Express Scripts (NASDAQ:ESRX) announced that it has
been working with Federal Trade Commission to close the proposed merger deal
with rival pharmacy benefits manager Medco Health Solutions. The
Google Alert - antiques coin
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Emerald Isle Parade winners announced Lee's Summit Journal Five participants were awarded trophies: Henry's Antiques – St. Patrick's ... 100 children participated in the Bits O' Gold Coin Hunt in City Hall Plaza. |
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US Stocks Surge To Multiyear Highs; Fueled By Stress Tests, Economic Optimism – Wall Street Journal
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USA TODAY US Stocks Surge To Multiyear Highs; Fueled By Stress Tests, Economic Optimism Wall Street Journal By Chris Dieterich and Matt Jarzemsky Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)–Stocks climbed to multiyear highs, catching an early lift from solid domestic economic data, rocketing in the final hour after surprise stress-test results from a pair … Stocks record biggest gains of year Los Angeles Times Stocks rocket after JPMorgan Chase raises dividend USA TODAY US STOCKS-Wall St rallies in 2012's best day, Citi falls late Reuters CNN all 1,186 news articles
US Stocks Surge To Multiyear Highs; Fueled By Stress Tests, Economic Optimism - Wall Street Journal
Optimism Wall Street Journal By Chris Dieterich and Matt Jarzemsky Of DOW JONES
NEWSWIRES NEW YORK (Dow Jones)--Stocks climbed to multiyear highs, catching an
early lift from solid domestic economic data, rocketing in the final hour after
surprise stress-test results from a pair ... Stocks record biggest gains of year
Los Angeles Times Stocks rocket after JPMorgan Chase raises dividend USA TODAY
US STOCKS-Wall St rallies in 2012s best day, Citi falls late Reuters CNN all
1,186 news articles
Dow Chemical To Launch Fellowship Program
a fellowship program. Dow Chemical To Launch Fellowship Program Dow Chemical
(NYSE:DOW) announced that it will give $10 million over six years to University
of Michigan as part of a fellowship program. The Dow Sustainability Fellows
Program will support 300 university students to
Dow Stages Broad Rally — Tuesday’s IP Market Recap
and S&P also reached new recent high marks.
FOMC Keeps Policy Unchanged; Gold is Falling –FOMC Meeting
meeting, which was the second Federal Open Market Committee meeting for 2012.
The Fed stated it sees signs of recovery in the U.S. economy in recent month and
thus decided to keep the current plan unchanged including: keeping rates low and
not introducing additional stimulus plans for now. Currently gold price is
tumbling down. The FOMC referred to the progress of the U.S. labor market; the
recent non-farm employment report is backing up this claim. The Fed decided to
continue with its program to extend the average maturity of its holdings of
securities as announced in September, without introducing any additional
stimulus plans. The U.S. inflation slightly rose last month to an annual rate of
2.3% (for the core CPI). This isnt something that should bother the FOMC for the
time being. The FOMC will maintain its pledge of keeping the low interest rates
at 0 to 0.25% at least until late 2014. This news may drag down bullion prices
and also further strengthen the U.S dollar. Following the release of this
statement and the recent update on the rally in U.S retail sales during last
month,
Gold Futures Remain Weak after Fed Meeting, Silver Steady
meeting. COMEX gold for April delivery settled down by $5.60, or 0.3%, at
$1,694.20 per ounce. The FOMC statement revealed that the Ben Bernanke-led Fed
intends to maintain its set of highly accommodative monetary policies but will
not launch a third round of quantitative easing (QE3). After the release of the
Fed announcement, the yellow metal headed further south, reaching $1,667.40 per
ounce as of 3:28pm ET. In contrast to gold futures, silver held near unchanged
at $33.49 per ounce after the Feds announcement. As for gold and silver shares,
the Philadelphia Gold & Silver Index (XAU) dipped 0.2% to 183.95 this afternoon.
Today’s Dow Jones Industrial Average Index DJI Stock Market Investing News Trends Today; Nasdaq, S&P 500 Review; Feds Report
finished mixed to open the first session of trading this week. Specifically, the
Dow Jones Index, as well as the Nasdaq, finished above break-even on opening
session despite the news out of China which outlined a weaker than expected
report on Chinese economic growth. According to the report, China experienced
its largest trade deficit in over a decade in February. Gas prices also shot
higher once again in the U.S. It was a challenging opening day. Although last
session had its challenges, futures for the primary index composites were
posting green prior to opening bell this morning. Stocks were poised for the
stronger open to the second trading session of this week. Investor attention
turned towards the Federal Reserve meeting. According to meeting notes, the
Federal Reserve still plans on keeping interest rates at record lows at least
through 2014. Investors keyed in on certain highlights of the report such as the
low rates, but also the jobs data. The report acknowledged improvement in the
U.S. job market. The unemployment rate has lowered to 8.3 percent and jobs have
been added every month this calendar year so far. The news helped support the
primary stock indices this day. Todays Dow Jones, Nasdaq, and S&P 500 indices
Approaching Close: Just prior to closing bell in the U.S. today, the stock
indices were posting green across the board. The DJIA was higher by 1.55 percent
at 13,161.14. The Nasdaq was higher by 1.71 percent at 3,034.36 and the S&P 500
was higher by 1.67 percent at 1,393.97. Frank Matto
Today’s Gold price per ounce spot gold price per gram Spot silver price per ounce Mid-day Price of Gold Silver Trends
trend-lines were pressured during the opening trading session this week. Both
contracts finished the opening session on the negative side if break-even for
the day. The dollar strengthened versus the euro that session and precious metal
gold price fell lower. China also reported a much larger trade deficit for last
month than expected which tarnished expectations for greater demand from the
area. Prior to opening bell this morning, Spot gold prices were still tracking
negatively. As the trading session reached the mid-day mark, gold was about
break-even and silver prices were posting green. The dollar had strengthened
versus the euro. Mid-Day Prices for Contract gold and Contract Silver Today:
April contract gold was just above break-even by .01 percent at 1700 per troy
ounce. Silver contract for May delivery was green and posted a floor price at
33.41 per troy ounce. Spot gold price per gram and spot silver price per ounce
Mid-Day review today: Spot gold price per gram was red by .08 at 54.55 and spot
silver price per ounce was green by .24 at 33.61. Camillo Zucari
Gold and Silver Down, Miners Higher
retail sales and the approval of a second round emergency funding for Greece.
Hathaway Outlines 9 “Key Points” for Precious Metals
respect to abandoning the protection against monetary debasement that gold
provides." The above comment is from with John Hathaway, manager of the
Tocqueville Gold Fund and one of the most prominent long-time gold bulls.
Google Inc. Releases Free Android Font
Roboto font. Google Inc. Releases Free Android Font Google Inc. (NASDAQ:GOOG),
the world's largest search engine, announced that its new system-wide font
Roboto, which was introduced with the launch of Android 4.0, will be available
for free download. The font is available
Microsoft Corporation Adopts Environmental Reporting Standards
global standard for environmental management reporting. Microsoft Corporation
Adopts Environmental Reporting Standards Microsoft Corporation (NASDAQ:MSFT)
announced that it has adopted CarbonSystems Environmental Sustainability
Platform (ESP) cloud application as its new global standard for managing its
energy, efficiency and environmental-performance reporting. Microsoft
Corporation (NASDAQ:MSFT) will be implementing
Gold Price “Has a Lot Further to Go” on the Upside
ounce Tuesday morning ahead of today's Federal Reserve meeting.
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From trash to treasure The Alestle The antique fair ran friday and saturday in the student fitness center on ... Alspach's collection also included silver and gold coins and figurines from ... |
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Google Alert - gas prices today
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Rising fuel prices eat into travel budgets Ottawa Citizen By Charisse Jones, USA Today March 13, 2012 7:50 AM Dick Taylor has been hitting the road as a sales rep for 35 years. But now he's slowing down - not because he's tired. Fuel is just getting too expensive. In the last month, Taylor's company told him ... See all stories on this topic » | ||
FortisBC seeks 25% gas price cut Vancouver Sun "The rates approved today are allowing our customers to continue to benefit from some of the lowest delivered natural gas prices in more than a decade," said Cynthia Des Bri-say, vice-president of energy supply and resource development, said in a news ... See all stories on this topic » | ||
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3 Low-Cost Emerging Market ETFs
XCSFDHG46767FHJHJF
tdp2664 InvestorPlace The U.S. economy still is trying to claw its way out of recession. Half of the eurozone is broke — and the other half is shelling out financial floatation devices. Chinese "slowdown" be darned, China and the rest of the emerging world still seem like ideal places to invest for growth. The makers of exchange-traded
Today’s Gold price per ounce spot gold price per gram, spot silver price per ounce; Price of Gold Silver Review Today
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dow2664 Gold price silver price market trend review today: Gold and Silver price trends remained negative throughout the whole of the opening trading session this week. Although gold and silver prices finished green across the board to end the last trading week, the two precious metals were unable to carry the positive momentum through the weekend. The dollar remained strong versus the euro last session and this continued to apply pressure to precious metal price trends. Global economic news stemming from China was weaker than expected. China reported a trade deficit of over 31 billion in February. Economists were expecting the trade deficit to be less by approximately two thirds. This news allows concerns pertaining to global economic growth to increase. Weaker growth for a nation like China could equal weaker demand. Gold and silver price dropped lower with this news. Contract gold price per ounce silver price per ounce close review today: Gold contract for April delivery finished the last session lower by .68 percent and posted a floor price close at 1699.80 per troy ounce. May contract silver closed the last session lower by 2.34 percent at 33.41 per troy ounce. Spot gold price per gram and spot silver price per ounce: After last session close and prior to today’s opening bell, spot gold per gram and spot silver per ounce price trends were mixed. Spot gold per gram was red at 54.56 and spot silver price per ounce was green at 33.52. Camillo Zucari
Today’s Gold price per ounce spot gold price per gram, spot silver price per ounce; Price of Gold Silver Review Today
remained negative throughout the whole of the opening trading session this week.
Although gold and silver prices finished green across the board to end the last
trading week, the two precious metals were unable to carry the positive momentum
through the weekend. The dollar remained strong versus the euro last session and
this continued to apply pressure to precious metal price trends. Global economic
news stemming from China was weaker than expected. China reported a trade
deficit of over 31 billion in February. Economists were expecting the trade
deficit to be less by approximately two thirds. This news allows concerns
pertaining to global economic growth to increase. Weaker growth for a nation
like China could equal weaker demand. Gold and silver price dropped lower with
this news. Contract gold price per ounce silver price per ounce close review
today: Gold contract for April delivery finished the last session lower by .68
percent and posted a floor price close at 1699.80 per troy ounce. May contract
silver closed the last session lower by 2.34 percent at 33.41 per troy ounce.
Spot gold price per gram and spot silver price per ounce: After last session
close and prior to todays opening bell, spot gold per gram and spot silver per
ounce price trends were mixed. Spot gold per gram was red at 54.56 and spot
silver price per ounce was green at 33.52. Camillo Zucari
Gold & Silver Prices – Daily Outlook March 13th 2012
previous three days.
GLD Headed to $200
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tdp2664 InvestorPlace SPDR Gold Shares' (NYSE:GLD) stochastic flashed a buy signal last week.