Gold and silver prices started off 2012 with very sharp gains mainly during the
first trading day of the year. Since many other financial markets also started
2012 on a positive note including crude oil market and American stock market,
this rally may have partly due to the phenomena known as the January effect. The
positive reports from the U.S. on the U.S. manufacturing PMI may have also
contributed to the markets rally at the beginning of the week. But by the end of
the week gold and silver prices changed direction and slightly declined on
Friday, perhaps due to a market correction and a reaction to the recent U.S.
labor report.
No comments:
Post a Comment