lior

The prices of gold and silver changed direction again and traded up during most of the week. The week was short on account of Thanksgiving. There were, however, some reports that these parities may have gotten closer to a resolution which could be concluded next week. Moreover, the recent positive news of the rise in the manufacturing PMI (flash report) in China may have also positively affected the prices of commodities. Several other reports were published during the week and may have had a moderate effect on the forex and commodities markets: the U.S jobless claims sharply declined by 41k to reach 410k; the U.S housing starts rose by 3.6%. These news items may have contributed to modest fall of precious metals at the middle of the week. ...

The prices gold and silver remained virtually unchanged on the first day of the week as the Euro, Yen and other currencies remained unchanged yesterday. Yesterday's Euro-group meeting was concluded with little headway as the EU ministers of finance approved Greece's budget but postponed its decision of approving the next loan tranche to next week. On today's agenda: European Council Meeting, Great Britain CPI, German ZEW economic sentiment, BOE Inflation Estimate and U.S. Federal Budget Balance.

On Monday, Gold remained unchanged at $1,730.9; Silver slipped by 0.25% to $32.52. During the month, gold increased by 0.69%; silver, by 0.63%.

On Today's Agenda
European Council Meeting: In the European Council ...

The prices of gold and silver continued last week their downward trend. Will this downward trend progress this week? The U.S manufacturing PMI edged up during October to reach 51.7%; jobless claims decreased by 9k to reach 363k. These reports may have contributed to downfall of precious metals rates. Further, the U.S non-farm payroll may have had a negative effect on precious metals prices and other commodities prices on Friday. During the last week, the Euro/USD declined by 0.83%; further, the Aussie dollar also depreciated against the USD by 0.36%. This downward trend may have contributed to the decline of bullion rates.
The main reports and events that may affect the bullion markets are: U.S Presidential elections, Euro-group meeting, ...

During the previous week, gold and silver prices decreased. Last week's EU Summit didn't ease the concerns of traders as Spain didn't request a bailout. Several U.S reports may have contributed to the decline in gold and silver prices: the Philly Fed index turned positive for the fist time since April; housing starts hiked by 15% during last month; U.S core CPI rose by 0.1% during September. During last week the Euro/USD rose by 0.56%; on the other hand, the Canadian dollar depreciated against the USD by 1.39%. The main events of the week will shift back to the U.S and will include the FOMC meeting and U.S third quarter GDP report.

The video report herein has an outlook of gold and silver for the main publications and events ...