Gold & Silver Prices – Daily Outlook October 24

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DG365FD46564GFH654FU898 Gold and silver prices ended the week with sharp rises after a week long of falls. Some consider that the rally of gold and silver prices is over and others consider there will be sharp gains during this week. All speculators look towards the EU summit as one of the catalysts that will push gold and silver prices. Currently gold and silver prices are traded up. Today, ECB president Trichet will speak in an ECB Press Conference; the Euro Area Manufacturing PMI will be published. Here is a market outlook of precious metals prices for today, October 24th: Gold and Silver Prices – October Update Gold price sharply inclined on Friday by 1.44% to $1,636.1; silver price also sharply rose by 3.01% to $31.19. The chart below shows the changes in gold and silver prices during the month (normalized gold and silver prices (September 30th 2011=100)). During October, gold price rose by 0.9% and silver prices by 3.7%. The ratio between gold and silver prices sharply declined on Friday, October 21st to 52.45. During October, silver price inclined by a slightly larger rate than gold price as the ratio fell by 2.7%. On Today’s Agenda: Euro Area Manufacturing