Gold & Silver Prices – Daily Outlook October 21

Gold and silver prices sharply fell yesterday and thus gold price completed four
days of falls. Currently gold and silver prices are traded up. Today, there will
be an ECB Press Conference in which Trichet will speak; the German Business
Climate Survey will be published, and the Canadian Core CPI. Here is a market
outlook of precious metals prices for today, October 21st: Gold and Silver
Prices – October Update Gold price sharply declined on Thursday by 2.07% to
$1,612.9; silver price also sharply fell by 3.18% to $30.28. 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
declined by 0.6%, and silver prices by 0.7%. The ratio between gold and silver
prices slightly inclined on Thursday, October 20th to 53.26. During October,
silver price inclined by a slightly larger rate than gold price as the ratio
slipped by 1.2%. Gold and silver prices continue to move in the same direction
as their linear correlation remains high and positive. On Todays Agenda: ECB
Press Conference Trichet Speaks: Jean Claude Trichet, President of the European
Central Bank, will talk about the challenges