Gold and silver prices continue to slowly incline even if they zigzag along the
way up. The recent rally in the American and European stock markets as some of
the confidence among traders was restored even for a short while may have helped
the rally of major commodities including gold, silver and crude oil. Currently
gold and silver prices changed direction again and are traded slightly up.
Today, Australias Central Bank will have a monetary policy meeting, and China
GDP for Q3 2011 will be published. Here is a market outlook of precious metals
prices for today, October 17th: Gold and Silver Prices – October Update Gold
price slightly inclined on Friday by 0.87% to $1,683.0; silver price also
increased by 1.60% to $32.17. The chart below shows the development of gold and
silver prices in October (normalized gold and silver prices (September 30th
2011=100)). During the month, gold price inclined by 3.7%, and silver prices by
6.9%. The ratio between gold and silver prices increased on Friday, October 14th
to 52.31. During October, silver price inclined by a slightly larger rate than
gold price as the ratio decreased by 3.0%. The recent slow paced upward trend in
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