Gold and silver prices recorded additional sharp gains yesterday following the
European Union leaders agreement on debt reduction for Greece; the news of the
U.S GDP growth in Q3 may have also helped push commodities prices up as the
confidence in the markets grew. Currently gold and silver prices are traded with
moderate changes. Today, U.S. Employment Cost Index will be published and U.S.
Personal Income and Outlays report. Here is a market outlook of precious metals
prices for today, October 28th: Gold and Silver Prices – October Update Gold
price rose on Thursday by 1.40% to $1,747.7; silver price also sharply inclined
by 5.41% to $35.11. These are the highest price levels these metals have reached
in October. The chart below presents the development of gold and silver prices
during October (normalized gold and silver prices (September 30th 2011=100)).
During October, gold price increased by 7.7% and silver prices by 16.7%. The
ratio between gold and silver prices sharply fell on Thursday, October 27th to
49.78. During October, silver price inclined by a slightly larger rate than gold
price as the ratio slipped by 7.7%. US GDP Grew by 2.5% in Q3 2011 As reported
yesterday, the growth
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