Gold and silver prices started off the week with sharp falls, but they have soon bounced back during the week; by the end of the week they have finished the week with moderate rises. The high uncertainty in the financial markets including the concerns in Europe over the Greek debt, the slowdown in the US economy and Chinese economy is keeping gold and silver prices high.
Here is a short review of the changes in gold and silver prices during the week of June 13th to 17th 2011:
Precious Metals Prices weekly summary:
*This figure is calculated based on the percent change from the price at the beginning of the week compare to end of the week
Gold price increased by 1.55% during the week; gold’s average price during the week was $1,527 /t. oz which is 0.86% below the previous week’s average price of $1,540 /t. oz.
Silver price also inclined by 2.91% from beginning to end, and this week’s average price was $35.37/t oz or 3.98% below the previous week’s average $36.84/t oz.
During the week, the average daily percent change of gold price rose by 0.13%; silver price declined on a daily scale by an average of 0.30%.
In the chart below are the silver and gold prices that were normalized to 100 to the price at the beginning of the week – June 13th. It presents the trend of these precious metals prices.
The last chart is of the daily percent changes of silver and gold prices during last week (i.e. the changes around the trend). The chart shows that silver price started off with sharp falls at the beginning of the week; gold price also fell on Monday, but afterwards both precious metals inclined during the rest of the week.
For further reading (in this site):
Previous issues of weekly report:
- Gold and Silver finished the week falling – weekly recap 6-10 June
- Gold and Silver seeking direction – weekly recap 31 May- 3 June