The prices gold and silver edged up during last week, and I suspect this trend will continue in the days to follow. As I have pointed out in the precious metals weekly outlook the main events of the week will revolve around the U.S Philly Fed, CPI and EU GDP for Q2 2012. There are speculations around the future steps of ECB and Bank of China in regards to their respective plan to issue a monetary stimulus; these speculations could have some marginal effect on forex and commodities markets. On today’s agenda: Minutes of BOJ monetary policy meeting.
Here is a short outlook for precious metals for Monday, August 13th:
Precious Metals –August Update
On Friday, Gold edged up by 0.16% to $1,622.8; Silver slipped by 0.12% to $28.06. During August, gold rose by 0.51%; silver, by 0.53%. Furthermore, on Friday the SPDR Gold Shares (GLD) also edged up by 0.19% and reached by August 10th 157.18.
Current Gold and Silver Rates as of August 13th
Gold (September 2012 delivery) is traded at $1,625.9 per t oz. a $3.1 or 0.19% increase as of 07:14*.
Silver (September 2012 delivery) is at $28.05 per t oz – a $0.012 or 0.04% decrease as of 07:14*.
For the rest of the report you can see it in Seeking Alpha
Here is a reminder of the top events and publications that are scheduled for today and tomorrow (all times GMT):
00:50 –Minutes of the recent Japanese monetary policy meeting
09:30 – Great Britain CPI
10:00– Euro Area GDP 2Q2012 Report
10:00 –German ZEW economic sentiment
10:00 –Euro Area ZEW economic sentiment
13:30 –U.S. Retail Sales Report
13:30 – U.S. Producer Price Index
For further reading: