Gold and silver changed directions throughout the week with no clear trend, resulting in gold price and silver price ending the week slightly below their starting point. On the other hand, gold and silver average weekly prices were higher than in the previous week. The news from Europe in regards to the political changes in Italy and Greece may have been among the factors affecting the Forex market and consequently influencing the bullion prices.
Gold slightly slipped by 0.17% during the week; on the other hand, this week’s average gold of $1,785 /t. oz was higher by 2.78% than the previous week’s average price of $1,737 /t. oz. Gold finished the week at $1,788 /t. oz.
Silver, much like gold, moderately declined during the week by 0.42%, but this week’s average price was 34.63/t oz or 2.08% above the previous week’s average $33.92/t oz.
During the week, the average daily per cent change of gold increased by 0.37%; silver also inclined by an average daily rate of 0.36%.
In the chart below are the silver and gold that were normalized to 100 to the price at the beginning of the week – November 7th. It presents the development of gold and silver during the week.
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