Gold and silver changed direction again and declined on Tuesday after they had risen on Monday. The recent news of China's decline in trade growth during June (as both imports and exports growth fell in June compared with May's figures) may have contributed to the downfall in bullion rates. The fall was also registered in other markets including oil and U.S stocks. Fitch stated it's unlikely to U.S's AAA rating will change before late 2013. The Rating agency is waiting for the debt reduction plan that will be implemented after the elections. There are many items on today's agenda including: Minutes of FOMC Meeting, American and Canadian Trade Balance reports, German and American 10 Year Bond Auctions, Bank of Japan Monetary Policy Statement, and Australia Rate of Unemployment. The complete daily outlook of gold and silver for July 11th
Gold fell on Tuesday by 0.59% to $1,579.8; silver also decreased by 2.05% to $26.88. During July, gold declined by 1.52% and silver by 2.64%.
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