Gold & Silver Prices – Daily Outlook October 18

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DG365FD46564GFH654FU898 Gold and silver prices started the week with moderate falls as speculation over the next step of the European leaders is not clear. The Chinese economy grew in the third quarter by a slower than expected pace. Currently gold and silver prices are traded down. Today, U.S. Producer Price Index will be published, the U.S. TIC Long Term Purchases report and the Chairman of the Fed will give a speech. Here is a market outlook of precious metals prices for today, October 18th: Gold and Silver Prices – October Update Gold price slightly declined on Monday by 0.38% to $1,676.6; silver price also decreased by 1.09% to $31.87. The chart below shows the development of gold and silver prices in October (normalized gold and silver prices (September 30th 2011=100)). During the month, gold price inclined by 3.3%, and silver prices by 5.8%. The ratio between gold and silver prices increased on Monday, October 17th to 52.69. During October, silver price inclined by a slightly larger rate than gold price as the ratio decreased by 2.3%. Update on European Debt Crisis Following the G-20 meeting over the weekend, as it was agreed that the European leaders will need to