Gold and silver prices ended the week falling but during most of January they
have had an upward trend. The recent downgrade of Frances credit rating from AAA
to AA+ by the credit rating Standard & Poors may have been among the factors in
pulling down the Euro along with commodities prices on Friday. This news may
adversely affect Frances attempt to auction today €8.7 billion worth of bills.
Currently, gold and silver are traded up. Today, ECB President will give a
speech and Chinas GDP growth rate report will be published. Here is a market
outlook of precious metals prices for today, January 16th: Gold and Silver
Prices –January Update Gold price declined on Friday by 1.03% to $1,630.8;
silver price also declined by 2% to reach $29.52. During January, gold price
rose by 4.1% and silver price by 5.8%. In the chart below are the normalized
gold and silver prices (gold and silver prices are normalized to December 30th).
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