Gold & Silver Prices | Weekly Recap 16-20 January

Gold and silver kept their upward trend they have had during most of the first month of 2012. Despite the announcement over the last weekend by S&P to downgrade France and several other EU countries’ credit rating, France and Spain didn’t seem to have a problem selling their bonds during the week. The Euro and other “risk” currencies appreciated against the U.S. dollar during last week. This, in turn may have been among the factors keeping gold and silver rising during most of the week. The recent American reports including the U.S. housing starts and the U.S. Producer Price Index had declined; these reports may have also helped rally precious metals during the week.          

 For the complete analysis on gold price and silver price weekly recap see here in Trading NRG

Gold rose during last week by 2.04%; furthermore, during last week the average gold reached $1,658.5 /t. oz which is 1.65% above the previous week’s average price of $1,631.54 /t. oz. Gold ended the week at $1,664 /t. oz.

Silver, even more than gold, sharply increased during last week by 7.29%; this week’s average price reached 30.72/t oz which is 3.68% above the previous week’s average $29.63/t oz.

For further reading:

Weekly Outlook for 23-27 January

Where are Gold and Silver Headed in 2012?

Gold and Silver Prices Monthly Outlook for January 2012