Gold and silver started the week, unlike last week, with very sharp price changes; these changes were also felt in other financial markets such as the American stock markets. The Super-Committee in the U.S. was suppose to decide on budget cut but failed. This news may have stirred up the markets including gold and silver during the first part of the week. The U.S. durable goods report was negative and the U.S.'s GDP for the third quarter was revised down. These reports may have also pressured down commodities including gold and silver. Finally, Germany's failure to sell all its bonds raised the concerns for the stability of Europe and for its debt crisis. According to recent reports, despite the fall in gold and silver prices Hedge funds are still bullish on gold.
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