Gold and silver prices bounced back on Friday following the sharp falls recorded
on Thursday, but now the tables have turned again as the precious metals prices
are declining. The agreement reached on Friday in the recent EU Summit doesn't
seem impress the financial community as major forex and commodities are traded
down. Today, the Australian Trade Balance report will be published, the German
Wholesales Prices, the U.S. Federal Budget Balance report and BOE Governor King
will give a speech. Currently gold and silver are traded sharply down. Here is a
market outlook of precious metals prices for today, December 12th: Gold and
Silver Prices –December Update Gold price slightly inclined on Friday by 0.20%
to $1,716.8; silver price also rose by 2.27% to $32.25. The chart below shows
the development of gold and silver prices during December (normalized gold and
silver prices to November 30th 2011). During December gold price declined by
1.9% and silver price by 1.7%. The ratio between gold and silver prices slightly
slipped on Friday, December 9th to 53.23. During the month the ratio slightly
declined by 0.2% as silver price slightly outperformed gold price. EU Summit
Calls for Budget Controls – The
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