Gold and silver prices changed direction and rose yesterday: silver, even more
than gold, sharply increased by 4.5% and thus it completed an 8.4% rally in the
past five business days. Will this silver rally continue? ECB will announce
today the second LTRO, this might affect the precious metals markets via the
Forex market. Currently gold and silver prices are increasing. Today there are
several reports and news items worth mentioning including: the KOF Economic
Barometer report, the Euro Area Annual Inflation, the Second U.S GDP 4Q 2011
Estimate the China Manufacturing PMI and the testimony of Bernanke. Here is a
short analysis on gold and silver for Wednesday, February 29th: Gold and
Silver– February Update Gold price rose on Tuesday by 0.76% to $1,788.4;
silver even more than gold sharply increased by 4.5% to $37.21. During February,
gold rose by 2.76% and silver by 11.85%. The chart below presents the
developments of gold and silver during the month (prices are normalized to
January 31st). The ratio between gold and silver sharply fell during Tuesday,
February 28th and reached 48.07 – the lowest level in months. During February
the ratio declined by 8.13% as silver has outperformed gold. In the
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