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.
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);
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