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Here is a short recap of the recent changes in gold and silver during the week of January 30th to February 3rd; this overview includes a short description of the developments in the financial arena that are related to the metals market.

For the video link on Gold and Silver Prices Weekly Forecast

The video link above includes a short analysis for gold and silver for the week of February 6th to February 10th; the outlook includes reviewing the main reports, events, decisions and news items that will published during the upcoming week.

Oil prices didn't do much during last week, but there was a shift in the premium of Brent over WTI as it reached the highest level since November 2011. Will this premium continue to rise in the upcoming week? Let's examine the oil market the main news items and events that may influence the direction of oil in the following week.

For the complete analysis of the oil market for the week of February 6-10 see here in Trading NRG

On Friday, February 3rd oil price (WTI) rose by 1.54% and reached $97.84/b; Brent also increased by 2.06% to $114.28/b; the recent growth in employment in the U.S may have helped oil prices to rally on Friday; during last week, WTI fell by 1.73% while Brent rose by 3.22%.

Following the low intensity week for major commodities as gold and silver didn't do much during the first week of February, the upcoming week is filled with many news items and decisions to be made that could affect the direction of commodities. These items include: U.S. trade balance report, Bernanke's testimony in the Senate, the G20 summit, ECB rate decision, China's CPI and trade balance reports, and BOE rate decision. Here is an economic news calendar outlook for the week of February 6th to 10th:
For the complete weekly setup for the week of February 6th to 10th see here in Trading NRG
(All times GMT):
1. Monday 6th of February 08:00 – Swiss National Bank Forex Reserves: the central bank of Switzerland will release ...

Gold and silver didn't do much during last week as they have started off with slight gains that were lost by the end of it. I suspect the recent non-farm payroll report, which showed a rise of 243,000 in employment, may have been among the factors to pull down precious metals on Friday. This report may have cooled down the speculative mode the metals market has been during January especially following the recent FOMC decision to keep rates low until 2014.

Read here more on gold and silver prices weekly recap for last week at Trading NRG