Gold and silver changed direction and rallied during last week. Will precious metals continue to rise during this week? As I have pointed out in the precious metals weekly outlook, there are several events and reports that could affect the bullion market. These items include: Euro-group meeting, minutes of the recent FOMC meeting, Bernanke’s speech, U.S retail sales, Philly Fed survey and U.S jobless claims. On today’s agenda: Euro-group meeting.
Here is a short outlook for precious metals for Monday, November 12th:
Precious Metals –November Update
On Friday, Gold increased by 0.28% to $1,730; Silver also rose by 1.12% to $32.6. During last week, gold increased by 3.32%; silver, by 5.64%. Furthermore, on Friday the SPDR Gold Shares (GLD) also increased by 3.21% and reached by November 9th 167.82.
For the rest of the report you can see it at Seeking Alpha
Current Gold and Silver Rates as of November 12th
Gold (December 2012 delivery) is traded at $1,734.9 per t oz. a $4 or 0.23% increase as of 14:43*.
Silver (December 2012 delivery) is at $32.55 per t oz – a $0.05 or 0.17% decrease as of 14:43*.
Here is a reminder of the top events and publications that are scheduled for today and tomorrow (all times GMT):
All Day – Euro-group Meeting
All Day – European Council Meeting
09:30 – Great Britain CPI
10:00 –German ZEW economic sentiment
Tentative – BOE Inflation Estimate
19:00 –U.S. Federal Budget Balance
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