Here is a short recap of the developments in gold and silver prices during the week of February 6th to February 10th; this overview includes a short description of the changes in the financial markets that are related to the precious metals prices; in the analysis in I use charts and I highlight of the main news items that may have affected the direction of gold and silver prices to shift with no clear trend during the week.
The recent ECB rate decision in which ECB left the interest rate unchanged at 1%: this news may have been among the factors to trade up gold and silver on Thursday, because many had anticipated a rate reduction. The Euro and other “risk” currencies such as the Australian dollar and Canadian dollar also zigzagged during the week against the U.S. dollar. This shift in the direction of the U.S. dollar may have also been responsible for the shifts in the direction of gold and silver prices during the passing week.
The video link above includes a broad forecast for news and events that could affect gold and silver prices during the week of February 13th to February 17th; the estimation includes reviewing the main reports, events, decisions and news items to be published during the following week. Some of these reports and decisions include: Bank of Japan’s rate decision, GB CPI, Bernanke’s speech, German ZEW economic sentiment, publication of the minutes of FOMC meeting, EU GDP 4Q 2011, U.S. Housing Starts, U.S. PPI, U.S. Philly Fed Manufacturing Index, U.S. consumer price index and the U.S. jobless claims weekly update (just to name a few).
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