lior

Last week gold slightly increased despite the expectations that the FOMC meeting will adversely affect bullion prices. Silver price slightly declined last week. The U.S GDP for Q1 2012 didn't reach expectations and may have been among the factors to pull up precious metals prices on Friday. This upcoming week there are many news items on the agenda that may affect gold and silver. The main events of the week will revolve the U.S manufacturing production, U.S non-farm payroll report and ECB rate decision and monetary policy.
The video link and complete analysis of Gold and Silver Weekly Outlook
Gold moderately rose during last week by 1.34%, while silver slightly declined on a weekly scale by 0.97%.
Furthermore, during last week the GLD gold etf also rose by 1.15% and reached on April 27th 161.38.
During last week the U.S jobless claims slipped (week over week); this news however didn't seem to affect much the forex or commodities markets. The housing market in the U.S received positive news as pending home sales increased in March.
The video link on gold and silver prices provides a broad outlook for the major news and events that might affect the direction of metals during the week of week of April 30th to May 4th; the video includes reviewing the main reports, events, decisions and news items to be published during the upcoming week.
In conclusion, I speculate that if the U.S reports including the non-farm payroll report and Manufacturing PMI will beat or meet expectations then bullion might decrease. Finally, if the EU economy will continue to pose concerns that will adversely affect the Euro and bullion.
For further reading:
Weekly Outlook for April 30 –May 4 2012
Gold and Silver Prices Outlook for May 2012