Gold price and silver price precious metal trends fall back: Gold and silver precious metal prices dropped lower once again last session amidst the wide-spread sell-offs experienced in the broader U.S. marketplace. The Dow Jones Industrial Average lost almost 250 points last session and fell to a several week low. The widespread liquidation on Wall Street affected a wide range of sectors and the precious metal commodity sector experienced negative trends as stocks slid and the dollar grew stronger. The dollar climbed higher versus a basket of other foreign currencies last session and the inverse relationship between the dollar and precious metal safe haven appeal presented. Gold stocks experienced pressure due to the general weakness in precious metals. Both gold and silver contract prices finished the last full trading session with floor prices on the negative side of break-even. Gold price fell back .98 percent last session while silver price dropped back by 1.42 percent. The Philadelphia Gold/Silver Sector Index (XAU) dropped lower last session by 3.01 percent to close at 182.40. A major decliner in the XAU was Silver Wheaton (SLW) which dropped back last session by 5.6 percent. Silver Whaeaton was a primary component loser and finished the last full session in the red at 38.24 according to Google Finance quote review.

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