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Gold and Silver Prices Outlook for January 2014
The last FOMC meeting of the year ended with a mini-taper of $10 billion so that
quantitative easing 3 will continue to purchase $75 billion a month of LTS and
MBS. This decision may have had a moderate adverse effect on the prices of gold
and silver. By the end of the month, both precious metals slightly declined.
Moreover, on a yearly scale gold and silver tumbled down by 28.2% and 35.9%,
respectively. Thus, precious metals recorded their worst annual performance in
decades (yes you are reading it right in decades). Looking forward, will gold and
silver continue to tumble on the first month of 2014? Let's examine the upcoming
events, decisions and reports that may affect precious metals; let’s start, however,
with a short analysis of December.