Gold & Silver Prices – Daily Outlook January 16

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DG365FD46564GFH654FU898 Gold and silver prices ended the week falling but during most of January they have had an upward trend. The recent downgrade of France’s credit rating from AAA to AA+ by the credit rating Standard & Poor’s may have been among the factors in pulling down the Euro along with commodities prices on Friday. This news may adversely affect France’s 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 China’s 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).