Gold Silver Price Per Ounce Investing News Trends; Precious Metals Gold, Silver Floor Price March 6th, Week?s Review : This was an up and down week for gold and silver prices just as it was a roller coaster rise for the major stock index composites. Political unrest in the Middle East seemed to play in and out of fashion as it continues to influence precious metal market trends.
The week started off with gold and silver interest pushing higher. The dollar fell lower and April contract gold ended the session higher by .04 percent at $1,409.90 an ounce. March contract silver ended the Monday higher by 2.75 percent with a floor price of $33.80 an ounce. Metals held gains on Tuesday.
Surging food and oil prices continued to place downward pressure on stock index composite trending and this, paired with the dollar?s loss in strength on the day, helped precious metal gold and silver prices post higher for Tuesday?s close. April contract gold was higher by .40 at $1,431.60 an ounce. March contract Silver was higher by .19 at $34.61 an ounce.
On Wednesday, Gold and Silver continued positive trending. Bernanke relayed in comments today that the Republican agenda to cut over $60 billion in federal spending would slow the economic recovery process across our nation and decrease job growth. He specifically said that the spending cuts would reduce economic growth by as much as two tenths of a percentage point.
Indices were struggling at mid-day and the dollar had fallen lower to a handful of other currencies. This helped gold and silver maintain interest Wednesday. Precious metals dropped across the board on Thursday into the red for the first time all week. The dollar grew stronger this day and stocks pushed higher.
Investor anxieties over the Middle East seemed to lighten and safe haven assets suffered. Precious metals rebounded however on Friday and Gold and Silver ended the week green. Floor price for April gold ended higher by 12.20 at $1,428.60 an ounce. May contract silver ended the session higher by 1.00 at $35.33 an ounce.
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