Gold and silver prices ended the trading yesterday slipping again along with
other major commodities and the stock markets; some consider the recent
liquidity problems in Europe may have helped pull down the commodities market
including gold. Currently gold and silver prices are traded down. Today, U.S.
Jobless claims report will be published; the U.S. existing home sales, and the
Philly Fed Manufacturing Index. Here is a market outlook of precious metals
prices for today, October 20th: Gold and Silver Prices – October Update Gold
price slightly declined on Wednesday by 1.42% to $1,652.8; silver price also
fell by 0.03% to $31.83. The chart below presents the changes in gold and silver
prices during the month (normalized gold and silver prices (September 30th
2011=100)). During October, gold price inclined by 1.5%, and silver prices by
4.0%. The ratio between gold and silver prices slightly inclined on Wednesday,
October 19th to 52.66. During October, silver price inclined by a slightly
larger rate than gold price as the ratio slipped by 2.4%. Gold and silver prices
continue to move in the same direction as their linear correlation remains high
and positive. On Todays Agenda: U.S. Jobless Claims: initial claims slipped
No comments:
Post a Comment