Gold and silver stared the first week of December with moderate gains during the week. The reduction on the rates of US dollar based loans given to struggling EU banks by several central banks including the Federal Reserve helped push up the Euro and ease, in the short term, the anxiety in the markets. This may have also helped pull up commodities prices including gold and silver prices. The positive reported from the U.S. including the rise in US PMI manufacturing index, the sharp increase in US pending home sales and the positive response of the US consumer confidence survey may have also helped lift the commodities prices and consequently also rally gold and silver prices. The recent news of the 120k gain in the U.S. employment during November should have pressure down gold and silver, but in effect gold ended the week slightly rising, while silver slightly declined.
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