Gold and silver declined for the third consecutive day. The testimony of Bernanke didn't reveal the next move of the FOMC. The U.S housing starts report came out yesterday: housing starts rose by 6.9% during June (M-o-M). This report may have contributed to the decline in bullion. On today's agenda: U.S. Jobless Claims Weekly Report, Philly Fed Manufacturing Index, and U.S. Existing Home Sales.

For the complete outlook of gold and silver for July 19^th

Gold decreased again on Wednesday by 1.18% to $1,570.8; Silver also fell by 0.81% to $27.1. During July, gold declined by 2.08% and silver by 1.87%. 

On Today's Agenda

Philly Fed Manufacturing Index: In the previous June survey, the growth rate declined from -5.8 in May to -16.6 in June. If this trend will continue this index may affect U.S Dollar and precious metals prices (the recent Philly Fed review);

For further reading:

Gold & Silver | Weekly Outlook July 16-20