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Gold and silver prices wobbling

Posted on 21 August 2013

The silver price today plunged nearly four percent in early European trading due to concerns over US Fed’s plans to scale back its quantitative easing programme and technical selling. Gold also fell, retreating to as low as $1,352.2 an ounce but recovered later in the day as a weaker dollar boosted demand for gold as an alternative investment.
“The dollar is supporting the gold market,” said Phil Streible, a senior commodity broker at R.J. O’Brien & Associates in Chicago, as quoted by Bloomberg. “People will be looking for a clear indication from the Fed tomorrow.”……………………………………….Full Article: Source


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