Gold finished on top | silver at bottom – weekly recap 25-29 July

Gold bounced back and finished the week strong during the last week of July; silver, on the other hand, finished the week below the price level it had started the week at; both precious metals’ prices finished the last day of the month rising; this might be related, in part to the disappointing GDP growth rate of US in the second quarter that reached only 1.3%. All in the all, gold and silver prices had a huge rally during July, as they have broken the stag nations they were at in the past couple of months. 

 Here is a short review of the changes in gold and silver during the week of July 25th to July 29th 2011:   

 Gold moderately inclined by 1.04% during the week; furthermore, last week’s average gold reached $1,619 /t. oz which was 1.37% above the previous week’s average price of $1,597 /t. oz. Gold finished the week high at $1,631 /t. oz.

 Silver on the other hand moderately declined by 0.63% from beginning to end, but this week’s average price was $40.31/t oz or 1.17% above the previous week’s average $39.84/t oz.

During the week, the average daily per cent change of gold rose by   0.37%; silver didn’t change on an average daily scale.

 For further reading:

Gold & Silver Prices Outlook – 29 July

What is the distribution of gold prices?

 

Lior Cohen, M.A. commodities analyst and blogger at Trading NRG.  

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