Bullion edged down again for the second consecutive day. The recent testimony of Bernanke didn't offer any hints of the future steps of the FOMC. Bernanke voiced his concerns for the slow decline in rate of unemployment and slow progress in the housing market. He remained vague as to the actions the FOMC would consider to jump-start the U.S economy. The inflation report came out yesterday: the core CPI edged up again by 0.2% during June. If this vote will pass it may ease some of the uncertainty around the Spanish banks debt crisis. On today's agenda: Minutes of MPC Meeting, U.S. Housing Starts & building permits, Bank of Canada's Monetary Policy, and Bernanke's Testimony in the House of Representatives. For the complete outlook of gold and silver for July 18th Gold declined again on Tuesday by 0.13% to $1,589.5; Silver also slipped by 0.02% to $27.32. During July, gold declined by 0.92% and silver by 1.07%.
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