Silver Fundamental Analysis January 31, 2013 Forecast

Analysis and Recommendations:

Silver is trading at 31.633 as precious metals gained today. With the US dollar weakening after a very poor showing of US GDP, precious metals continued to gain. US GDP disappointed markets printing at -0.1% on expectations of 1.1%, showing that the US consumer was much more worried about the US Fiscal Cliff than economists or politicians realized. Base metals were trading on the green turf with the complex gaining over one per cent on LME backed by brighter economic outlook. On the LME, copper rose to a three week high while nickel was the best performer gaining nearly two per cent. MCX base metal complex too rose in tandem with movements on the LME. Silver was able to benefit on both ends today.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our  weekly reports.

Economic Data January 30, 2013 actual v. forecast

 

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Upcoming Government Bond

Date Time Country 

Jan 31 01:30 Japan 

Jan 31 10:10 Sweden