Gold and silver prices started the first week of 2012 with sharp gains but by the end of the week they have changed direction and ended Friday’s trading with light falls. This shift in direction may have been stem, in part, due to the positive U.S. non-farm employment report. Currently, gold and silver are traded moderately up. Today, the German Industrial Production report will come out and the BOC Business Outlook Survey.Here is a market outlook of precious metals prices for today, January 9th:Gold and Silver Prices –January UpdateGold price slightly fell on Friday by 0.20% to $1,616.8; silver price also declined by 2.09% to reach $28.68. In the chart below are the normalized gold and silver prices of recent weeks (gold and silver prices are normalized to December 23rd). During January, gold price rose by 3.2% and silver price by 2.8%.
