Gold and silver slightly increased on Friday and may continue this slow-paced trading on the last day of the month. Spain published its GDP report: Spain's GDP had contracted by 0.3% in the first quarter of 2012 – the same rate as in the previous quarter. This is another report showing the economic slowdown Spain is at. Currently this news doesn't seem to have much of an effect on the financial markets. In a recent report by the IMF Mexico, Russia and Turkey added to their gold reserves about 44.8 metric tons during March (A more details analysis on gold holding is in the recent May report).
On today's agenda: EU Monetary development, Canada's GDP and China's Manufacturing PMI. The full daily analysis on gold and silver for April 30th Gold rose on Friday by 0.26% to $1,664.8; silver much like gold increased by 0.43% to $31.41. During April, gold decreased by 0.42% and silver by 3.3%.
On Today's Agenda
EU Monetary Development: If the M1 and M3 will continue to increase according to the upcoming report it could serve as another indicator for the rising inflation pressures in the Euro Area, and it may affect the upcoming ECB interest rate decision;
Canada's GDP: In the previous report for January 2012, the real gross domestic product edged up by 0.1%. This report may affect the strength of the Canadian dollar which is strongly linked with gold and silver prices;
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