Gold and silver moderately changed throughout the second week of December with a downward trend. The ongoing uncertainty vis-à-vis the potential outcome of the current European debt crisis continues to affect commodities and forex markets. The main news item that may have pushed the markets down (including the stocks and commodities markets) was the ECB rate decision and the follow up ECB press conference in which the ECB President stated that he opposes a bond purchase plan by the ECB, i.e. a European quantitative easing program. This news came on Thursday and drove gold and silver prices down, but on the closing day of the week gold and silver bounced back and slightly recovered from Thursday's falls.
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