Wednesday, November 9, 2011

Gold & Silver Prices – Daily Outlook November 9

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DG365FD46564GFH654FU898 Gold and silver prices continued to rally and moderately inclined yesterday. The news from Greece and Italy continues to pour in but doesn’t seem to have much of an effect on the commodities and forex markets (for the time being). Currently gold and silver prices are traded down. Today, Australia employment report will be published, and Chairman of the Federal Ben Bernanke Speaks. Here is a market outlook of precious metals prices for today, November 88th: Gold and Silver Prices – November Update Gold price moderately rose on Tuesday by 0.45% to $1,799.2 – the highest price level since September 21st; silver price also inclined by 0.93% to $35.15. The chart below shows the development of gold and silver prices during the month (normalized gold and silver prices (October 31st 2011=100)). During November, gold price increased by 4.3% and silver price rose by 2.3%. The ratio between gold and silver prices slightly slipped again on Tuesday, November 8th to 51.18. During November, gold price rose by a higher rate than silver price so that the ratio inclined by 1.9%. The chart below shows the developed of this ratio during November.



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