Gold and silver continue to zigzag and perhaps the market is just waiting for next week's FOMC meeting to see if there won't be any big surprises or announcements that could affect the bullion markets. In the mean time, the market will probably continue to shift from gains to losses. The stock markets sharply rose yesterday perhaps due to the easing concerns over the EU debt crisis, the announcement that IMF raised the global growth forecast from 3.3 to 3.5 in 2012 – this was the first raise since 2011. Alternatively the housing starts declined but that didn't seem to have much of an adverse effect on stock markets, and only little positive effect (if at all) on bullion. Today, the minutes of the recent MPC meeting will be released. The complete daily outlook on gold and silver for April 18th Gold edged up on Tuesday by 0.06% to $1,650; silver also increased by 0.99% to $31.69. Despite the different daily percent changes of bullion in recent days, the linear correlation of their daily percent changes is still strong and robust as presented in the chart below.
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