Here is a weekly recap for gold and silver prices for the week of January 16th to January 20th that includes a description of the recent developments of gold and silver prices via chart analysis and highlights of the main news that may have affected gold and silver prices to further increase during the week. The recent announcement of S&P to downgrade France and Austria’s credit rating didn’t seem to bother traders as the recent auction of France and Spain seem to have gone well during the week. The Euro and other “risk” currencies such as CAD and AUD rose against the U.S. dollar during last week. This, in turn may have been among the factors responsible for the rally of gold and silver prices during last week. The recent American reports that were published last week including the U.S. housing starts and the U.S. Producer Price Index may have also contributed to the rally precious metals prices during the week.
The video link above also includes a quick forecast for gold and silver prices for the week of January 23rd to January 27th including the main reports, events, decisions and news items that may affect gold and silver prices during next week. Some of these reports include: U.S. GDP growth rate in fourth quarter of 2011, U.S. new home sales report, Euro Area monetary development report (M1, M3), FOMC meeting, BOJ’s rate decision, ECB president’s speech and the U.S. unemployment claims weekly update (just to name a few).
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