Gold & Silver Prices – Daily Outlook October 6

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DG365FD46564GFH654FU898 Gold and silver prices continue to seek direction and ended yesterday moderately rising. The continuous rally the U.S. and Europe stock markets were probably driven from the recent bailout plans in the European markets that may have curbed the gains of gold and silver. Currently, gold and silver prices are traded up. Today, the European Central Bank interest rate decision will be announced, BOJ rate decision and U.S. Unemployment Claims report will be published. Here is a market outlook of precious metals prices for today, October 6th: Gold and Silver Prices – October Gold price inclined on Wednesday by 0.75% to $1,628; silver price also increased by 0.87% to $30.10. The chart below shows the development of gold and silver prices in recent weeks (normalized gold and silver prices (September 16th 2011=100)). During October gold price slightly inclined by 0.4%, and silver prices by 0.1%. The ratio between gold and silver prices slipped on Wednesday, October 5th to 54.09. During October, silver price slightly declined by a larger rate than gold price as the ratio increased by 0.3%.