Gold and silver prices changed direction and moderately declined yesterday, even
though other commodities prices such as crude oil prices rose on Wednesday.
Currently, gold and silver prices are slightly rising. Today, the U.S. final Q3
GDP will be published, GBs GDP of third quarter and U.S. Unemployment Claims.
Here is a market outlook of precious metals prices for today, December 22nd:
Gold and Silver Prices –December Update Gold price slightly slipped on
Wednesday by 0.25% to $1,613.6; silver price also declined by 0.97% to $29.25.
The chart below shows the downward trend of gold and silver prices during most
of December (normalized gold and silver prices to November 30th 2011). During
December gold price decreased by 7.8% and silver price by 10.8%. The ratio
between gold and silver prices slightly declined on Wednesday, December 21st and
reached 55.17. During the month the ratio gained 3.4% as gold price has
outperformed silver price. The correlation between gold price and silver price
is still high in December as it was in previous months. U.S Existing Home Sales
Rose in November The U.S existing homes sales slightly rose in November by 4%;
this news coincides with the recent sharp gains in the
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