Last week gold and silver started off with little movement but by Thursday both precious metals tumbled down. The FOMC decision to continue operation twist throughout the rest of 2012 by $267 billion and not to introduce QE3 may have been among the factors to pull down bullion rates. The Fed also revised down the U.S economic outlook which also may have dragged down commodities prices. Several other U.S related reports came out last week and showed the U.S economy isn't expanding: Philly Fed index declined in June to its lowest level this year; existing home sales had an upward trend during last week. U.S jobless claims didn't change much and declined by only 2k last week.
Gold plunged during last week by 3.76%; Silver, even more than gold, tumbled down on a weekly scale by 7.01%. Furthermore, during last week the SPDR Gold Shares (GLD) also fell by 3.3% and reached by June 22nd 152.64.
The video report herein presents an outlook of gold and silver for the main publications the main publications and events that may affect bullion between June 25th and June 29th.