Gold price continued to decline yesterday after the sharp falls recorded a day
earlier; silver price on the other hand changed direction and slightly rallied.
The U.S. Producer Price Index slightly inclined according to yesterdays PPI
report, and the Philly Fed Manufacturing Index also rose in December. Today, the
ECB President will give a speech, and the U.S. Consumer Price Index report.
Currently gold and silver are traded up. Here is a market outlook of precious
metals prices for today, December 16th: Gold and Silver Prices –December
Update Gold price slipped on Thursday by 0.61% to $1,577.2 – the lowest price
level since July 12th; silver price on the other hand rose by 1.17% to $29.27.
The chart below shows the changes of gold and silver prices during the month
(normalized gold and silver prices to November 30th 2011). During December gold
price decreased by 9.9% and silver price by 10.8%. The ratio between gold and
silver prices rose on Thursday, December 15th to 53.88. During the month the
ratio slightly rose by 1.0% as gold price moderately outperformed silver price.
Analysts Still Predict Gains for Gold Price Despite the sharp fall recorded
during December mainly during this week in
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