This week in gold and silver, a rally mid week took silver and gold back up, silver to near $24.00 CAD and gold just over $1400 CAD. Seems like the news from the U.S Federal reserve bank that they would not stop stimulating the economy was mostly responsible fo the sudden jump upward.
However in the final 2 days of the trading week gold and silver trended down again close to where they started and closed today at $22.45 CAD, silver, and $1365.04 CAD for gold
Key news to watch for next week will be how the president and U.S congress try to settle the U.S debt ceiling issue. A similar situation about a year ago ended with a massive rally for gold and silver, however opinions are mixed on if that will happen again.
In my Sherwood Park retail bullion store, demand for bullion is moderate this week, more buying was happening when the price rose and tapered off once it cooled down.
More next week, gotta fly.
-Aaron