Gold and silver prices recorded one of their worst weeks in the past months.
Both precious metals prices didnt decline by such a sharp rate since the
penultimate week of September – back when the CME raised the margins on gold
and silver contracts. This time, the sharp drop came on Wednesday, December 14th
following the disappointment of many traders from the FOMC meeting in which
there were no announcement of another stimulus plan that would have raised the
money base of the U.S. and thus further pressuring up the price of gold and
silver. The positive reports on the progress of the U.S. economy including the
Philly Fed index and the gains in the U.S. PPI
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