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Precious metals prices shifted with an unclear trend throughout the week with an unclear trend despite the appreciation of the Euro and several "risk currencies" during last week. On the other hand the Aussie dollar declined against the UDS mainly due to RBA's decision to lower the cash rate by 25pp. This development may have contributed to the unclear trend of precious metals. There were several reports that were published during the previous week: the U.S manufacturing PMI rose to 51.5; 114k jobs were added in September according to the recent non-farm payroll report; U.S jobless claims rose by 4k to 367k. . Bernanke gave a speech last weeks, and in it he assured that the Fed will keep the rates low even if the economy were to recover. ...

The prices gold and silver rose again for the second consecutive day. The rally was plausibly fueled by the recent appreciation of the Euro against the USD. The ECB left its interest rate unchanged at 0.75%. Mario Draghi stated (again) that ECB is ready to start its bond purchase program that will help Spain. This news may have contributed to the recent recovery of the Euro. U.S jobless claims rose by 4k to reach 367k. On today's agenda include: U.S. Non-Farm Payroll (update: 114k jobs were added in September) and Canada's Employment Report.
Minutes of FOMC Meeting
The minutes of the FOMC meeting, which was held back in September 13-14 came out yesterday. The report showed the FOMC is considering continuing with its current ...

During last week, gold and silver slightly declined as the recent developments in Greece, Spain and Italy that included riots against austerity measures may have pulled down not only bullion rates but also the Euro. By the end of the week, the release of Spain's budget for 2013, which introduced, according to the Spanish government, austerity measures that are with accordance to the EU guidelines, may have contributed to the rally of the Euro and precious metals rates. There were several reports that were published during the previous week: the U.S GDP growth rate was revised down to 1.3%; U.S new home sales declined in August by 0.3%; U.S consumer confidence index rallied in September; U.S jobless claims declined by 26k to 359k. This mixed ...

Precious metals zigzagged throughout the week with an unclear trend despite the deprecation of the Euro and other "risk currencies" during last week. There were several reports that were published during the previous week: the U.S GDP growth rate was revised down to 1.3%; U.S new home sales declined in August by 0.3%; U.S consumer confidence index rallied in September; U.S jobless claims declined by 26k to 359k. This mixed signal regarding the development of the U.S economy may have contributed to the unclear trend in major commodities markets. In Europe, the recent developments in Greece, Spain and Italy that included riots against austerity measures may have helped drag down not only bullion rates but also the Euro.
The ...