The bullion markets continue to dwindle as they have finished April in the red. During there were several reports that came out and may have influenced bullion traders. The U.S manufacturing PMI increased to 54.8%. This news may have helped rally energy prices and U.S stock markets, but trade down a bit bullion. U.S initial jobless claims sharply declined to 365k according to its latest report; this news may have also adversely affected metals via the strengthening of the USD Finally by the end of the week the U.S non-farm payroll report came out and showed a modest gain of only 115k in April. This news may have been among the factors to drag down oil and U.S stock markets while trading up bullion. The complete gold and silver weekly recap analysis
Gold slightly declined during last week by 1.14%; on the other hand, during last week the average price reached $1,652.12 /t. oz which is 0.20% above the previous week's average price of $1,648.8 /t. oz. Gold price finished the week at $1,645.2 /t. oz. Silver , decreased on a weekly scale by 1.88%; furthermore, this week's average price reached $30
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