Gold and Silver Prices Weekly Outlook for January 30- February 3

Here is a short recap of the development of gold and silver prices during week of January 16th to January 20th; this recap includes a short description of the changes of precious metals market via chart analysis and highlights of the main news that may have pressured gold and silver to sharply rise during the week. 

The recent announcement of the FOMC to keep its interest rates low until the end of 2014 may have been among the leading news item to push up gold and silver prices during the second part of last week. The Euro and other “risk” currencies including the Australian dollar and Canadian dollar sharply rose against the U.S. dollar during last week. This rally in the forex markets may have also been responsible for the recovery of gold and silver prices during the week. The recent American housing market reports that were published last week including the U.S. new home sales and the American pending home sales showed signs of a slowdown from recent month’s recovery; these reports may have also contributed to the gains of precious metals prices during the week.


The video link above includes a short forecast for gold and silver prices for the week of January 30th to February 3rd including the main reports, events, decisions and news items that will published during the week. Some of these reports include: U.S. consumer confidence report for January, U.S. ISM manufacturing PMI report, Euro Area Summit, testimony of Bernanke in U.S. house of representatives, China’s manufacturing PMI, U.S. non-farm employment report, and the U.S. jobless claims weekly update (just to name a few).

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