Gold & Silver Prices – Daily Outlook October 6

Gold and silver prices continue to seek direction and ended yesterday moderately
rising. The continuous rally the U.S. and Europe stock markets were probably
driven from the recent bailout plans in the European markets that may have
curbed the gains of gold and silver. Currently, gold and silver prices are
traded up. Today, the European Central Bank interest rate decision will be
announced, BOJ rate decision and U.S. Unemployment Claims report will be
published. Here is a market outlook of precious metals prices for today, October
6th: Gold and Silver Prices – October Gold price inclined on Wednesday by
0.75% to $1,628; silver price also increased by 0.87% to $30.10. The chart below
shows the development of gold and silver prices in recent weeks (normalized gold
and silver prices (September 16th 2011=100)). During October gold price slightly
inclined by 0.4%, and silver prices by 0.1%. The ratio between gold and silver
prices slipped on Wednesday, October 5th to 54.09. During October, silver price
slightly declined by a larger rate than gold price as the ratio increased by
0.3%.