Saturday, December 17, 2011

Gold & Silver Prices | Weekly Recap 12-16 December

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DG365FD46564GFH654FU898 Gold and silver prices recorded one of their worst weeks in the past months. Both precious metals prices didn’t 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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