Gold and Silver Forecast for February 3-7

HotForex Gold & Silver

Gold and silver changed direction and fell last week mainly following the latest FOMC’s decision to cut down again its asset purchase program by an additional $10 billion to $65 billion a month. This mini-taper was expected and yet it still dragged down the prices of gold and silver. Moreover, the U.S economy continues to show slow progress: the GDP for the fourth quarter grew by 3.2% – a slower pace than the third quarter, but still a good result. Conversely, jobless clams rose by 19k to reach 348k. For the week of February 3rd to 7th, several reports and events will play out this week including: U.S non-farm payroll report, RBA ECB and BOE rate decisions, U.S ISM manufacturing PMI, and U.S factory orders.  Pročitaj ceo tekst

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