lior

Precious metals took a dive on Thursday and thus erased their gains from the first weeks of June. The FOMC decision to extend operation twist throughout the rest of the year by another $267 billion wasn't what many bullion traders had hoped. This means that without another quantitative easing program bullion rates aren't going anywhere. Several other U.S related reports came out during the week and showed the U.S economy isn't progressing: Philly Fed index declined in June to its lowest level this year; existing home sales had an upward trend during last week. U.S jobless claims didn't change much and declined by only 2k last week.

The complete gold and silver weekly recap analysis

Gold and silver tumbled down along with other commodities prices such as oil and U.S stock markets. Even the Euro/USD plummeted during yesterday. The FOMC's decision to extend its operation twist by $267 billion until the end of the year and not to introduce another QE program is likely to be among the factors to drag down bullion rates. Further, the Fed updated down its projection of U.S GDP growth from a range of 2.4-2.9 to 1.9-24 for 2012 and for 2013 the projection was cut from 2.7-3.1 to 2.2-2.8. This also may have also contributed to the decline of U.S stock markets and commodities that are strongly correlated with metals. U.S jobless claims edged down by 2,000 during last week; the Philly Fed index plunged to -16.6 in June; U.S existing ...

Last week gold and silver didn't do much; Gold had a steady upward trend; silver increased every day except on Thursday. Despite the testimony of Bernanke from the previous week, the speculations continue to run high of the Fed announcing next week of another stimulus plan. The upcoming FOMC meeting could stir up the markets but I suspect it will eventually be just another storm in a teacup. In Europe many anticipate for the results of the Greek elections and how this round might affect Greece leaving the EU. This upcoming week there are several reports on the agenda that may affect bullion. The main events will revolve around Greek elections and the aftermath, FOMC meeting, U.S Philly Fed index, China's manufacturing PMI, G20 Meeting and U.S ...

Gold and silver didn't do much yesterday as gold price slightly rose and silver edged down. The mixed trend of major currencies during yesterday's trading may have contributed to the mixed trend in the bullion market. The U.S PPI sharply fell by 1% mainly due to the drop in energy prices. The U.S PPI ex food & energy edged by 0.2%; this news tends to be negatively linked with gold; U.S retail sales edged down by 0.2%. Spain's 10 year bond yields to nearly 6.9% after Moody's rate cut. On today's agenda: U.S. CPI, jobless claims weekly update, Governor King will give a speech, ECB monthly bulletin, Bank of Japan and Swiss National Bank rate decisions.
The full daily outlook of gold and silver for June 14th

Gold edged ...