Gold price continued its decline and finished yesterday in the red while silver
price remained virtually unchanged. Currently gold and silver prices are traded
slightly down. Today, U.S. Consumer Price Index will be published; the U.S.
building permits and housing starts report as well. Here is a market outlook of
precious metals prices for today, October 19th: Gold and Silver Prices –
October Update Gold price sharply declined on Tuesday by 1.42% to $1,652.8;
silver price on the other slightly inclined by 0.03% to $31.83. The chart below
shows the recent changes in gold and silver prices during the month (normalized
gold and silver prices (September 30th 2011=100)). During October, gold price
inclined by 1.9%, and silver prices by 5.8%. The ratio between gold and silver
prices sharply fell on Tuesday, October 18th to 51.92. During October, silver
price inclined by a slightly larger rate than gold price as the ratio decreased
by 3.7%. Despite the change in direction in which gold and silver priced moved
in different direction their relation is still robust with a strong and positive
correlation as indicated below. On Todays Agenda: U.S CPI: This monthly report
will show the main changes in the
No comments:
Post a Comment