Yesterday’s sharp sell-off in the precious metals
seems to have been met with some fundamental support but look for a
bumpy ride as a choppy trading session is expected. Headlines out of the
Eurozone have investors approaching the day with
caution following weak business confidence data out of Germany that was
released yesterday. Today, ECB President Mario Draghi will meet with
German Chancellor Angela Merkel to discuss the Eurozone’s current
situation amid calls from the IMF for the implementation
of the European Stability Mechanism to ward of financial collapse of
the regions peripheral economies. Here in the U.S., investors will take
in reading on home prices and consumer confidence. Home prices were
reported to have increased by .4% in July, a sixth
consecutive increase. However, it was a case of ‘good but not good
enough” as analysts were expecting a.9% increase. Have a great day!
Gold & Silver spot prices
| Bid | Ask | +/- | LDN | High | Low | Close | |
|---|---|---|---|---|---|---|---|
| Gold | 1771.22 | 1771.62 | 6.08 | 08:42 | 1775.01 | 1762.00 | 1765.19 |
| Silver | 34.22 | 34.27 | 0.21 | 08:42 | 34.51 | 33.90 | 34.02 |
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