Gold and silver prices sharply rose yesterday and recorded the sharpest gains
during October. Does this mean there is a shift in the recent trend of gold and
silver prices from downward to upward? Today, the second (this week) EU summit
will be held in Brussels; in the summit there will an attempt to resolve the
European debt crisis. Currently gold and silver prices are traded up. Today, U.S
Core Durable Goods report will be published; U.S. New Home Sales report; and
BOJs Rate will be announced. Here is a market outlook of precious metals prices
for today, October 26th: Gold and Silver Prices – October Update Gold price
sharply rose on Tuesday by 2.91% to $1,700.4; silver price also sharply inclined
by 4.45% to $33.05. These are the highest price levels these metals have reached
during the month. The chart below shows the development of gold and silver
prices during October (normalized gold and silver prices (September 30th
2011=100)). During October, gold price rose by 4.8% and silver prices by 9.9%.
The ratio between gold and silver prices slipped on Tuesday, October 25th to
51.45. During October, silver price inclined by a slightly larger rate than gold
price
No comments:
Post a Comment