Gold and silver, much like many other commodities, rose again on Thursday and thus completed a second straight day of gains. The U.S housing starts declined during June while the number of building permits increased. U.S. jobless claims remained nearly unchanged at 366k. The Philly Fed Index rose again for the August survey but was still negative, which means the manufacturing conditions aren't expanding. Nonetheless this news may have contributed to the rally in commodities and stock markets. Will this rally continue today? On today's agenda: Canada's Core CPI, and UoM Consumer Sentiment.
On Thursday, Gold rose again by 0.78% to $1,619.2; Silver also increased by 1.44% to $28.3. During August, gold rose by 0.3%; silver, by 1.4%.