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DG365FD46564GFH654FU898 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.
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