Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account
View RSS Feed

lior

Gold and Silver Outlook for November 13

Rate this Entry
by , 11-13-2012 at 06:04 AM (967 Views)
The prices gold and silver remained virtually unchanged on the first day of the week as the Euro, Yen and other currencies remained unchanged yesterday. Yesterday's Euro-group meeting was concluded with little headway as the EU ministers of finance approved Greece's budget but postponed its decision of approving the next loan tranche to next week. On today's agenda: European Council Meeting, Great Britain CPI, German ZEW economic sentiment, BOE Inflation Estimate and U.S. Federal Budget Balance.

On Monday, Gold remained unchanged at $1,730.9; Silver slipped by 0.25% to $32.52. During the month, gold increased by 0.69%; silver, by 0.63%.

On Today's Agenda
European Council Meeting: In the European Council Meeting the EU ministers of finance will meet and talk about the recent monetary developments in Europe; this could include Greece's eligibility to receive the next bailout package;
U.S. Federal Budget Balance: this report indicates the government debt growth and thus may affect the U.S dollar. In the previous report referring to September, the deficit declined by $75 billion to a deficit of $1,089 billion for the fiscal year of 2012; this is a decrease of 16% compared to the last fiscal year;
Great Britain Consumer Price Index: some expect the inflation rate had further dwindled; in the recent report regarding September the annual CPI decreased from 2.5% to 2.2%; this news might affect the British pound, which is also linked with commodities prices;
Tags: gold, silver
Categories
Uncategorized

Comments

Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.