Gold and silver prices stared the first week of December with moderate gains
during the week. The reduction on the rates of US dollar based loans given to
struggling EU banks by several central banks including the Federal Reserve
helped push up the Euro and ease, in the short term, the anxiety in the markets.
This may have also helped pull up commodities prices including gold and silver
prices. The positive reported from the U.S. including the rise in US PMI
manufacturing index, the sharp increase in US pending home sales and the
positive response of the US consumer confidence survey may have also helped lift
the commodities prices and consequently also rally gold and silver prices. The
recent news of the 120k gain in the U.S. employment during November should have
pressure down gold and silver prices, but in effect gold price ended the week
slightly rising, while silver price slightly declined.
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