Gold and silver prices ended the last day of 2011 on a positive note and rose
after they had declined during most of December. Will the recent rally in
precious metals prices continue today, the first business day of 2012?
Currently, gold and silver are traded sharply up. Today, Great Britain
Manufacturing PMI report will be published, U.S. Manufacturing PMI and the
minutes from the recent FOMC meeting. Here is a market outlook of precious
metals prices for today, January 3rd: Gold and Silver Prices –January/
December Update Gold price bounced back and rose on Friday by 1.68% to $1,566.8;
silver price also followed and inclined by 2.2% to reach $27.92. In the chart
are gold and silver prices changes throughout December (normalized gold and
silver prices to November 30th 2011). During December gold price decreased by
10.5% and silver price by 14.9%. The ratio between gold and silver prices
slightly slipped on Friday, December 30th and reached 56.13. During the month
the ratio gained 5.2% as gold price has outperformed silver price. The chart
below shows the ongoing strong relation between gold price and silver price in
2011: it shows that their linear correlation between their daily percent changes
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