Gold continued its upward trend and moderately increased yesterday, while silver changed direction and was traded down.  The recent manufacturing PMI reports showed that EU and China's manufacturing might have shrunk during February. This news may have curbed the rally of gold and silver during yesterday's trading. Today, there is the G20 Meeting, U.S. Unemployment Claims weekly update will be published and the Governor Stevens testifies.

See here for the complete analysis on gold and silver daily setup.

Gold increased on Wednesday by 0.73% to $1,771.3; silver on the other hand declined by 0.5% to $34.33.

The ratio between gold and silver sharply rose on Wednesday, February 21^st and reached 51.60. During February the ratio slightly declined by 1.39% as silver has moderately outperformed gold. In the chart below are the changes in this ratio during February.