Stock index composites sank lower after Bernanke spoke yesterday and general pessimism regarding the future of the economic recovery grew stronger. The dollar lost strength to the euro and the table was set for safe havens. Gold contract finished the session red however. Gold contract for August delivery closed lower by 3.20 at 1544 per troy ounce. Silver contract for July delivery finished the session greener by .026 at 37.05 per troy ounce. After hours spot gold and spot silver trends posted similar patterns. Spot gold per gram and kilo was moving lower and spot silver per kilo and ounce was moving higher. During the interval between last session close and prior to today’s session open, spot silver price per kilo was higher by 2.83 at 1185.21. Spot silver price per ounce was higher by .09 at 36.86. Spot gold price per gram was higher by .16 at 49.56 and spot gold price per kilo was higher by 160.43 at 49560.70. If stocks continue to fall off, investors will look for safe haven gold prices to move forward during the day;s session. Author: Camillo Zucari

Source