Source: ForexYard
Both Gold and Silver prices did not perform much during the last couple of weeks despite seeing some sharp movements in that time.By the end of March Gold prices lost 2.3 percent while Silver saw bigger losses of 6.23%.
Precious Metal movements this week should revolve mainly around the U.S Labor report and the whether it will be be another good month for employment.Currently gold and silver prices are showing some slight downward movements, but there are a number of economic reports due to come out today which could interfere with the metal’s movements including the U.S ISM manufacturing PMI,Euro Area Unemployment Rate and Australian Retail Sales.
The ISM Manufacturing PMI will refer to the monthly development in the manufacturing sector during March 2012. During February, the index dropped to 52.4 percent showing that the sector is still gorwing, but at a slower pace. The result could possibly affect the currency markets and potentially crude oil.
In regards to the Australian Retail Sales, the report will examine the developments in the nation’s retail sales for February 2012.The report could affect the movements of the Australian Dollar.
To conclude, the two metals did not do much during the previous few trading weeks , however things may begin to happen again especially if the speculation regarding another stimulus plan by the Federal Reserve comes back into play.The economic reports that are scheduled to be released today will show progress of the U.S economy and if the figures continue to increase, it could lower the possibility of another QE program and as a result, lower gold and silver prices.
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
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