lior

Last week gold and silver changed direction from a downward trend to a sudden steep increase on Thursday and Friday. Could this mean there is some fundamental shift in the bullion market that warrants such a shift? The main noteworthy news that might have affected metals was the tumble in the Philly Fed Index and the minutes of the recent FOMC meeting. I suspect these two items may have rekindled the old question "will there be another QE program in the near future?" This upcoming week there are items on the agenda that may affect the bullion. The main publications will revolve around the U.S core durable goods, China's manufacturing PMI, U.S new and existing home sales Japan's trade balance, and Germany's business climate. Of course the ongoing political developments in Greece and the economic slowdown in Spain may also keep the news cycle busy.
The video Weekly outlook report for Gold and Silver

During last week Gold rose by 0.5%; Silver declined on a weekly scale by 0.61%. Furthermore, during last week the GLD gold etf also rose by 0.64% and reached by May 18th 154.55, which is still a low rate for 2012.
The video link above presents a broad overview for the main publications, public speeches and events that may affect bullion between May 21st and May 25th; the video includes reviewing the main reports, events, decisions and publications that will come out during the days to come. Some of these reports and events are:
Tuesday – U.S. Existing Home Sales: This report will pertain to the shifts in U.S. existing home sales during April 2012; in the previous report regarding March 2012 the number of homes sold decreased: the seasonally adjusted annual rate of 4.48 million home sales – a 2.3% decline; if this trend will continue it may curb the recent rally in the USD;