Gold & Silver Prices | Weekly Recap 17-21 October

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DG365FD46564GFH654FU898 Gold and silver prices changed direction from the slow climb up the ladder they have experienced in the first couple of weeks of October as they declined during most of last week. The speculation revolving the next move of the EU policymakers next week may have contributed to the volatility of precious metals’ prices. Some speculate that the liquidity problem many European banks are facing caused them to trade in their commodities’ holding including in gold and silver in order to boost their capital buffer. The Philly Fed Manufacturing Index sharply inclined during October and the U.S. housing starts also picked up in September; these news items may have also helped relieve some of the tension in the financial markets and thus cool the recent gains in the bullion markets.