Here is a short recap of the recent changes in gold and silver prices during the week of January 30th to February 3rd; this overview includes a short description of the developments in the financial arena that are related to the precious metals market; the analysis includes chart analysis and highlights of the main news that may have affected gold and silver prices to moderately increase during the week.
The recent non-farm payroll report came out on Friday: non-farm employment expanded by 243,000 during January; this news may have been among the factors to trade down gold and silver on Friday. The Euro and other “risk” currencies such as the Australian dollar and Canadian dollar slightly depreciated against the U.S. dollar during last week. This shift in the direction of the U.S. dollar may have also been responsible for curbing the rally of gold and silver prices during last week.
The video link above includes a short outlook for gold and silver prices for the week of February 6th to February 10th; the forecast includes reviewing the main reports, events, decisions and news items that will published during the upcoming week. Some of these reports and decisions include: U.S. trade balance report, ECB rate decision, the testimony of Ben Bernanke in the Senate, China’s CPI, BOE rate decision, and the U.S. jobless claims weekly update (just to name a few).
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