Gold and silver prices changed direction and slightly slipped on the first day
of the week. There are many news items on the agenda today including Great
Britain CPI, Euro Area GDP for the third quarter, U.S. Retail Sales, U.S.
Producer Price Index and Bank of Japan Rate Decision. Currently gold and silver
prices are traded slightly down. Here is a market outlook of precious metals
prices for today, November 15th: Gold and Silver Prices – November Update Gold
price slightly declined on Monday by 0.54% to $1,778.4; silver price also
declined by 1.90% to $34.02. The chart below presents the development of gold
and silver prices in recent month (normalized gold and silver prices to October
31st 2011). During November, gold price increased by 3.1%, while silver price
slightly slipped by 1.0%. The ratio between gold and silver prices slightly rose
on Monday, November 14th to 52.27. During November, gold price rose by a higher
rate than silver price so that the ratio rose by 4.1%. Goldman Lowers Forecast
on Commodities Prices According to Bloomberg, Goldman Sachs reduced its one year
projections on major commodities prices; Goldmans current prediction for silver
price is $32.2 within a year
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