Gold and Silver Prices Weekly Outlook for March 5-9

Here is a short overview of the recent developments in gold and silver prices
during the week of February 27th to March 2nd; this includes a short description
of the main news items and events that may have stirred up the markets and were
related to the sharp shifts in precious metals prices; in this analysis I use
charts and examine how if any last weeks events and reports affected the
direction of gold and silver prices during last week. The main event that
stirred up not only the metals markets but also other financial markets such as
the forex and crude oil markets was the recent testimony of Bernanke. Another
big headline that stirred up the forex and commoditisers markets was the
announcement of ECB that it will allot €529.5 billion to LTRO rescue fund–
this was higher than expected and may have also affected Euro/USD. The Euro
sharply fell against the USD, while other risk currencies such as the Australian
dollar and Canadian dollar appreciated against the U.S dollar during the week.
This shift in the direction of the Euro/U.S. dollar may have dragged down gold
and silver prices during last week. The video link above provides a