lior

Last week gold and silver started off the week with little movement, but by Thursday both precious metals tumbled down after the testimony of Bernanke didn’t deliver in relaying whether another QE program might be issued in the near future. In Europe many anticipate for next Sunday’s Greek elections and how this round might affect Greece’s chances of it leaving the EU. Over the weekend Spain announced it will ask for nearly 100 billion euros from the EU. Will this bailout help sustain the liquidity problems the Spanish banks have is remain to be seen. This news may continue affecting not only the forex markets, but also bullion markets. The main events will revolve around Spanish bailout, U.S retail sales and U.S PPI & CPI monthly ...

Precious metals prices started off the week with little movement despite their sharp rise during last Friday following the disappointing U.S employment numbers. The premise behind this speculation was that since the U.S economy is showing signs of slowdown, this could push the Fed towards issuing another stimulus plan, which will help rally gold and silver. This idea took a hit in the chin when Bernanke testified in the Senate on Thursday; he stated economic conditions are improving mainly the U.S real estate market; he also said the U.S labor market isn’t in such a dire condition as many had claimed; he voiced his concerns revolving the European debt crisis; he didn’t refer to any additional plans the Fed might consider in the future and ...

Crude oil prices bounced back from their tumble during the previous week. On Thursday Bernanke testified in the Senate; he voiced his concerns around the European debt crisis as it may affect the US economy but he didn’t said any new plans of another stimulus plan; he just kept the door open on QE3. This news may have helped drag down commodities prices including oil.
On Thursday Bank of China cut the interest rates by 0.25 percent points for the first time since 2008. This signaled the economic conditions in China start to worry BOC. This news may have also pulled down commodities prices.

The complete oil prices weekly recap at Trading NRG

Last week gold and silver started off the week the same way they have shifted during the last couple of weeks with little movement until Friday when both metals (mainly gold) spiked. The disappointing U.S employment figures were the obvious catalyst for this sharp gain for both metals on Friday. This news may have rekindled the speculation regarding the possibility of the Fed introducing another quantitative easing program. If there will be another QE program it could reheat the current stagnate bullion market and drive prices up again. I'm not sure the current economic situation warrants another QE program. The upcoming FOMC meeting at the end of June might affect the markets if the tone of the FOMC will change from the previous meetings. ...