Gold and silver continue to shift with no clear direction as they slightly inclined yesterday, after they had moderately fell a day earlier. The European debt crisis continues to influence traders, resulting in the unclear path of precious metals in recent days. Today there are many items on the agenda including Euro Area CPI, American CPI and U.S. Long Term Treasuries Purchases.
Gold slightly rose on Tuesday by 0.21% to $1,782.2; silver also inclined by 1.27% to $34.46. The Euro/USD moderately declined on Tuesday by 0.69% to reach 1.354. The news from Europe will probably continue affecting the Forex market and consequently may also affect the fluctuations in gold and silver.
The standard deviation of the daily per cent changes of gold and silver during November slipped compared with the standard deviation in October and September; this might indicate a drop in the volatility of precious metals.
On Today’s Agenda
U.S. TIC Long Term Purchases: The Treasury International Capital report will present the main changes in the purchases and sales of U.S long term treasuries in September 2011. In the previous report regarding August, the net foreign holdings in U.S Treasuries longer-term notes fell by $8.7 billion.
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