Monday, December 12, 2011

Gold & Silver Prices – Daily Outlook December 12

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DG365FD46564GFH654FU898 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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