Gold and silver prices increased during most of last week. Will the recent rally of precious metals prices continue this week? As I have stated in the precious metals weekly outlook, there are several events and reports that may influence precious metals traders this week. These items include: U.S GDP, core durable goods report, EU Summit, and U.S housing data (new and pending home sales reports. On today’s agenda: Euro-group Summit.
Here is a short outlook for precious metals for Monday, November 26th:
Precious Metals –November Update
On Friday, the price of gold sharply rose by 1.34% to $1,751.4; Silver price also increased by 2.02% to $34.12. During the previous week, gold rose by 2.1%; silver, by 5.4%. Moreover, during last week, the SPDR Gold Shares (GLD) also increased by 2.3% and reached by November 23rd 169.61.
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Current Gold and Silver Rates as of November 26th
Gold (short term delivery) is traded at $1,748.4 per t oz. a $3 or 0.17% decrease as of 10:00*.
Silver (short term delivery) is at $34.08 per t oz – a $0.13 or 0.38% decrease as of 10:00*.
Here is a reminder of the top events and publications that are scheduled for today and tomorrow (all times GMT):
All Day – Euro-group Summit
09:30 – GB revised GDP Q3 2012
13:30 – U.S Core Durable Goods
15:00 – U.S Consumer Confidence
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