Gold & Silver To Carry On Price Increases Following Strength Of US Dollar, Gold $1,625, Silver $50

May 24, 2011 - PRLog -- Gold and silver prices ignored a much more potent U.S. dollar and gained ground as Eurozone monetary debt problems took center stage. Gold for June shipment added $20+ to close at $1,518+ per ounce within the Comex division using the NY Mercantile Trade. The spot gold price was growing by $20+, according to Kitco's gold index.

Silver prices rose 20+ cents to close at $35.37 per ounce. The U.S. dollar index was adding 0.38% to $75.38, nonetheless the euro was tanking 0.8% in opposition towards the dollar and gold in euro circumstances was a great deal more than 2%. Gold and silver rounded out the week of mixed trading getting a pop aided by resurfacing Eurozone sovereign monetary debt woes and issues that some kind of Greece default is unavoidable and would contaminate the remainder of Europe. Visit http://silver-dollar-values.com for more silver and gold investing tips.

Supposedly the German Bundesbank also stated that Germany's economic climate would slowdown. Germany is the powerful nation within the EU, accounting for the vast majority of improvement inside the region. According to the EU Commission, Germany is anticipated to create 2.6% in 2011, nevertheless the Bundesbank's feedback nowadays warned of losing the lack of momentum. The nation might also be seeing frequently greater expenditures with producer expenses jumping 6.4% in April due mainly to fuel expenditures.

Technical investing is an additional catalyst for gold as well as silver's rally Friday. Options expiration for the precious metals is subsequent Wednesday, top to a lot of shuffling of positions. Visit http://silver-dollar-values.net for more silver and gold investing tips.

Gold as well as silver had been slightly volatile this week on the slew of news that supplied little clarity on fiscal policy direction. The Federal Reserve's FOMC minutes launched Wednesday had been a great deal much less hawkish than feared, but curbing the cash supply inside the marketplace is nonetheless across the heading of its to-do checklist. The dollar had a volatile week in opposition towards the euro as Greece's monetary debt issue played second fiddle to figuring out a brand new head for the IMF. Any kind of rally in gold and silver was met by revenue taking while any substantial dip was met with purchasing. The SPDR Gold Shares, the greatest physically backed ETF, shed less than 1 ton, highlighting the lack of conviction from purchasers and sellers.

David Banister, main investment strategist at ActiveTradingPartners.com, states predicting precisely exactly where gold and silver will go subsequent is really a difficult choose correct now. "I believe it is unlikely that we get any lower than $1,440. My present forecast is really for that $1,462 to hold." As soon as gold shakes out this correction, Banister thinks it'll attack new highs of $1,625 sometime inside the summer time. Banister believes that $1,625 gold indicates that silver will probably be at $41/$42 an ounce soon.

Most specialists think that gold and silver will carry on to uncover direction via the U.S. dollar. Simply because the currency weakens, metals move higher simply because they retain a great deal more worth and inversely as soon because the dollar strengthens, the secure haven assets turn out to be a lot less thrilling location to stash money. In spite of the reality the dollar was potent Friday in opposition towards the euro, gold and silver nonetheless rallied on safe haven purchasing. This is really a excellent time nowadays to buy gold and buy silver while the prices are nonetheless pretty affordable. Visit http://silver-dollar-values.com for more silver and gold investing tips.

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