Gold Price – Gold As A Commodity

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Gold & Silver Market Update:

Following a 1.4% decline in prices on Friday, bullion is trading higher in the intraday trading today. At 11 CET, the metal is trading at $1,123.5, up by $8.4 or 0.74% per ounce, compared to the Friday close. The high reach in intraday trading today was $1,127.65. Following the price correction over the past week, bullion is now some 9% below the peak reached on 3 December, 2009. The market hit the four-week low of $1,109 in intraday trading on Friday.
Silver is also regaining some strength in the morning trading on Monday. Currently, the price is $17.25 per ounce, which close to 0.6% higher compared to the Friday close. The prices were as high as $17.36 per ounce in the Intraday Trading, but have slowly dripped to the session lows at the current level. Still, silver is some 11% below its peak reached on 3 December, 2009.
The prices are coming of their recent four-week lows. A heightened degree of volatility is possible in the short-term. However, despite the downward pressure exerted from the selling by institutional investors interested in profit-taking before the close of the year, bullion prices should remain on an upward trend.

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