Gold and silver prices started the week, unlike last week, with very sharp price
changes; these changes were also felt in other financial markets such as the
American stock markets. The Super-Committee in the U.S. was suppose to decide on
budget cut but failed. This news may have stirred up the markets including gold
and silver during the first part of the week. The U.S. durable goods report was
negative and the U.S.s GDP for the third quarter was revised down. These reports
may have also pressured down commodities prices including gold and silver
prices. Finally, Germanys failure to sell all its bonds raised the concerns for
the stability of Europe and for its debt crisis. According to recent reports,
despite the fall in gold and silver prices Hedge funds are still bullish on
gold.
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