Precious metals changed directions and fell yesterday. Their decline coincided with the rally of U.S equity markets. Conversely, the Euro and other leading “risk related currencies” also rose yesterday. Today, the Fed will publish the minutes of the April/May meeting. Bernanke will testify. Will Bernanke bring down the markets again with his economic outlook? According to a recent report by the Gold Council, the demand for gold in China and…
The bullion market has changed direction and rallied on the first day of the week after gold and silver rate plummeted last week. Will gold and silver continue to rally? The minutes of the recent RBA monetary meeting came out and showed the factors behind the latest rate cut. Tomorrow the Fed will publish the minutes of the April/May meeting. Will the Fed surprise with talks about pulling down the…
Gold and silver prices tumbled down again during last week. Will gold and silver continue to trade down this week? As I have stated in the recent precious metals weekly outlook, several publications, events and speeches will take place during the forthcoming week that may affect bullion prices. These items include: minutes of the recent FOMC meeting, Bernanke’s testimony in Congress, U.S new and existing home sales, U.S core durable…
The prices of gold and silver fell again yesterday. For gold this was the sixth consecutive business day in which it has declined. For silver it was the third straight day. Their decline coincided with the devaluation of the Euro and Aussie dollar against the USD. Yesterday, several U.S reports were published: The Philly Fed index for May declined; the consumer price index declined again by 0.4% in April; jobless…
Gold and silver tumbled down again during yesterday. Their plunge coincided with the devaluation of the Euro against the USD. Moreover, the ongoing recovery of the equities markets as seen with the rally of the S&P500 index and other indexes may have contributed to the decline in demand for precious metals. Yesterday, several U.S reports came out: PPI declined in April by 0.7% and the core PPI inched up by 0.1%;…
Precious metals resumed their downward trend and fell during yesterday. The fall of gold and silver prices coincided with the drop of leading “risk related currencies” such as the Euro and Aussie dollar against the USD. In the equities markets the S&P500 index and other leading indexes rallied. Will gold and silver continue to trade down today? On today’s agenda: Great Britain Claimant Count Change, Bank of England Inflation Report,…
The week started with little movement for both precious metals: the price of gold edged down while silver moderately increased. In the forex markets, the leading “risk related currencies” such as the Euro and Aussie dollar depreciated against the USD. In the equities markets the S&P500 index edged up. Will market volatility rise in the coming days? Yesterday, the U.S retail sales report came out and showed a moderate increase…
Gold and silver changed course and fell during last week. Will gold and silver bounce back this week? As I have pointed out in the latest precious metals weekly outlook, several reports, events and speeches will take place during the upcoming week that may affect bullion prices. These items include: EU GDP, Philly Fed survey, Bernanke’s speech, U.S housing starts, U.S PPI, Canada’s manufacturing sales, U.S and Canada’s CPI, and…
Gold and silver prices continued to seek direction as they fell during yesterday. Moreover, leading currencies such as the Euro, Japanese yen and Aussie dollar fell against the USD yesterday. In the U.S, jobless claims slipped by 4k to reach 323k as of May 4th. Will gold and silver continue to trade down? On today’s agenda: Bernanke’s Speech, Reserve Bank of Australia Monetary Policy Statement, G7 Summit, and Canada’s Employment…
The precious metals market continues to seek direction: yesterday both gold and silver changed course again and this time rallied. In the past several business days precious metals prices moved in an unclear trend even though in the past several weeks both metals slightly recovered from their sharp fall at the first two weeks of April. Will gold and silver changed direction and fall? On today’s agenda: Australia Employment Report,…
