Posted on | October 24, 2014 | 1 Comment
Gold price and silver price trend review and market session notes mid-day October 24, 2014:
Gold price was positive as of the mid-day mark in today’s trading session. Both gold and silver contract prices were tracking in a positive direction through the mid-day mark today.
The recent rebound in U.S. equities, as well as the strengthening dollar, should pressure precious metal prices as this session comes to a close. As equities rallied earlier and the dollar rose higher, investors reassessed their positions and safe haven appeal was affected. On the flip side, this is the beginning of a holiday season in many parts of the world. The holiday season is historically a time when more consumers are looking for items made from precious metals like gold and silver. The festival season in India often pushes gold purchases while the Christmas holiday time in the West prompts an increase in precious metal acquisitions. The surge in demand should push price per ounce levels higher as the calendar year comes to a close.
Current contract price per ounce for gold and silver and current price change review today October 24, 214 mid-day:
December contract gold price was up by .14 percent at the floor rate of 1,230.80 per ounce. December contract silver price was