Gold and silver Outlook:
Gold continues to trade up in August mainly due to the high uncertainty in the financial markets stem from the downgrade of US credit rating by S&P over the weekend. The Federal Reserve decisions to keep rates low all through mid 2013 along with its economic outlook of US's slow recovery are likely to push gold price further up. On the other hand, silver isn't rising as gold is, but this trend is likely to change and silver will eventually catch up with gold price's rally. There are many speculations behind this turn of events about silver's fall, but none of them seem to provide a good enough explanation. In any case, the sharp changes in gold and silver are likely to dissipate in the next few days and then gold and silver will stabilize and resume their slow upward trend.
Gold continues to trade up in August mainly due to the high uncertainty in the financial markets stem from the downgrade of US credit rating by S&P over the weekend. The Federal Reserve decisions to keep rates low all through mid 2013 along with its economic outlook of US's slow recovery are likely to push gold price further up. On the other hand, silver isn't rising as gold is, but this trend is likely to change and silver will eventually catch up with gold price's rally. There are many speculations behind this turn of events about silver's fall, but none of them seem to provide a good enough explanation. In any case, the sharp changes in gold and silver are likely to dissipate in the next few days and then gold and silver will stabilize and resume their slow upward trend.
By
M.Zohaib Gadit
Forex Trading Consultant, Shivani Financial
Address: Suite # 403, Portway Trade Centre, Main Sharah-e-Faisal
Opp. CDC Building, Near Nursery) Karachi,Pakistan.
Phone#: +9221-34328898-99
Cell: +92345-2259224
E-mail: zohaib.gadit@shivanifinancial.com
zohaibgadit@yahoo.com
Web Site: www.shivanifinancial.com
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