Gold and silver traders enjoyed from sharp gains to gold and silver prices
during most of last week. The G20 summit, the FOMC meeting, the ECB rate
decision and the U.S. labor report are the main events for the upcoming week
that could influence bullion traders. Currently gold and silver prices are
traded sharply down. The yen is sharply falling against the USD as Japan
intervened in the forex market. Today, Euro Area Annual Inflation will be
published, Canadas GDP report, China Manufacturing PMI and BOA Cash Rate
Statement. Here is a market outlook of precious metals prices for today, October
31st: Gold and Silver Prices – October Update Gold price slipped on Friday by
0.03% to $1,747.2; silver price on the other hand slightly inclined by 0.50% to
$35.29. 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 17.3%. The
ratio between gold and silver prices slightly fell on Friday, October 28th to
49.51. During October, silver price inclined by a slightly larger rate than gold
price as the ratio slipped by 8.2%. Japan
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