Gold and silver prices outlook for September 2011

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DG365FD46564GFH654FU898 Gold price experienced during August one of the biggest rallies in 2011. During August gold price nearly reached the $1,900 mark; silver price also inclined mainly in the second half of August, and even passed, at one point, the $43 mark. What were the main factors that contributed to these large gains during August? Much like in July, the sharp rises in gold price, had little to do (at least directly) with the fluctuations in US dollar against major currencies, and more to do with the speculations around the recovery of the US Economy, the ongoing debt crisis in Europe and the sharp falls in the US Stock markets. As the uncertainty in the financial markets inclined during the month, more traders pulled their funds from the stock market and invested in gold, silver and US Treasury bills.