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Gold and silver changed direction from the slow climb up the ladder they have experienced in the first couple of weeks of October as they declined during most of last week. The speculation revolving the next move of the EU policymakers next week may have contributed to the volatility of precious metals'. Some speculate that the liquidity problem many European banks are facing caused them to trade in their commodities' holding including in gold and silver in order to boost their capital buffer. The Philly Fed Manufacturing Index sharply inclined during October and the U.S. housing starts also picked up in September; these news items may have also helped relieve some of the tension in the financial markets and thus cool the recent gains in the ...

The oil market demonstrated a mixed trend as WTI slightly inclined while Brent slipped. The Libyan news of Qaddafi's demise may have helped lower the Brent oil prices as this news may have slightly helped ease the uncertainty in the European crude oil market. On the other hand, the rise in the Philly Fed Manufacturing Index and the U.S. housing starts may have helped push up the WTI.

By the end of the week, Brent shed 1.9% off its value while WTI inclined by 0.97%; as a result, the spread between Brent and WTI sharply fell to $23.56/b on Friday.
For the complete analysis on oil prices weekly recap see here in Trading NRG

Gold and silver sharply fell yesterday and thus gold price completed four days of falls. Currently gold and silver are traded up. Today, there will be an ECB Press Conference in which Trichet will speak; the German Business Climate Survey will be published, and the Canadian Core CPI.
Gold sharply declined on Thursday by 2.07% to $1,612.9; silver also sharply fell by 3.18% to $30.28. During October, gold declined by 0.6%, and silver by 0.7%.

USD / Gold & Silver– October
The AUD/USD slightly inclined on Thursday by 0.49% to reach 1.0155; other currencies also were traded up against the USD including CAD, CHF and Euro. If the "risk currencies" (AUD, Euro and CAD) will rise today, they might curb the ...

Gold and silver ended the trading yesterday slipping again along with other major commodities and the stock markets; some consider the recent liquidity problems in Europe may have helped pull down the commodities market including gold Today, U.S. Jobless claims report will be published; the U.S. existing home sales, and the Philly Fed Manufacturing Index.

Gold slightly declined on Wednesday by 1.42% to $1,652.8; silver also fell by 0.03% to $31.83.


For the complete report silver and gold prices outlook for October 20th see here in Trading NRG