The dollar gained strength yesterday against a basket of other currencies. The dollar gained on the euro, the British pound and the Japanese yen. Gold, Silver and Copper price per ounce for December delivery took back some of their losses. Since the Fed’s QE2, treasury yields are higher and the dollar has been holding strong against a basket of other currencies. Precious metal commodities have been keeping relative high values and contrary to the inverse relationship that the dollar and precious metals normally hold, the precious metals still moved up yesterday. This was a positive change when compared to end of week trending last week when commodities in general sold off and trending dropped dramatically. At end of session yesterday in the U.S., gold for December delivery was up .22%. Silver for December delivery was up .58% and Copper for December delivery was up .81%. Overall trends right now for gold are still positive when looked at from most perspectives. 30 day gold, 60 day gold and 1 year gold all trend up overall. Right now, spot gold looks to be trading at $1,362. World spot price for Gold and silver is in the green right now. Silver spot price is currently $25.67 per ounce. Gold for December delivery ended the session yesterday at $1,368.5 and was on its way up.

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