Friday, November 11, 2011

Gold & Silver Prices – Daily Outlook November 11

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DG365FD46564GFH654FU898 Gold and silver prices declined again yesterday for the second straight day following the ongoing development from Europe that produce news on an hourly basis. Currently gold and silver prices are traded with moderate change. Today, China’s new loans report will be published along with China’s M2 report, Great Britain PPI and UoM U.S. consumer confidence report will become available. Here is a market outlook of precious metals prices for today, November 11th: Gold and Silver Prices – November Update Gold price sharply declined on Thursday by 1.79% to $1,759.6; silver price also declined by 0.74% to $34.11. The chart below presents the development of gold and silver prices during November (normalized gold and silver prices (October 31st 2011=100)). During the month, gold price increased by 2.0% while silver price slightly declined by 0.7%. The ratio between gold and silver prices slightly slipped on Thursday, November 10th to 51.59. During November, gold price rose by a higher rate than silver price so that the ratio inclined by 2.7%. The European Debt Crisis Update November 11th The recent news for Italy was that European Central Bank started to purchase Italian bonds. This news stabilized the markets yesterday as the Euro moderately



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