Gold and Silver Outlook for March 26

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Submitted by Trading NRG as part of our contributors program.

Gold and silver started off the week with little movement as gold edged down while silver slightly rose. The recent new fromCyprus didn’t seem to affect much the demand for safe haven investments. Bernanke gave a speech yesterday inLondon but his speech also didn’t stir up the financial markets. Will gold and silver pick up? On today’s agenda: Governor Stevens speaks, U.S Core Durable Goods, U.S Consumer Confidence, and U.S New Home Sales.

On Monday, the rate of gold fell by 0.48% to $1,606.1; Silver also fell by 1.76% to $28.67. During March, gold rose by 1.8%; silver, by 0.97%.

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On Today’s Agenda

Governor Stevens speaks: Reserve Bank ofAustralia Governor will speak at the Australian Securities and Investments Commission Annual Forum; he might refer to the recent RBA monetary policy meeting, in which the RBA kept its policy unchanged;

U.S. New Home Sales: in the latest report (opens pdf), the sales of new homes spiked to an annual rate of 437,000 – a 15.6% gain (month over month); if the number of home sales will continue to rally, it may indicate a sign of recovery in the U.S real estate market;

U.S Core Durable Goods: As of January, new orders of manufactured durable goods decreased to $217.00 billion; if this report will present another drop in new orders then it could drag down not only the USD but also commodities rates;

U.S Consumer Confidence: based to the latest monthly report, the consumer confidence index spiked in January to 69.6 (M-o-M). The current expectations are that the February index may continue to rise; this report might affect precious metals;

For further reading:

Gold and Silver Outlook for March 25-29

Weekly Outlook of Financial Markets for March 25-29