Gold and silver have been maintaining a very slow upward trend over the last week. Gold rose by 2.31% and silver by .94%, gains that will hopefully continue this week under the speculation of another possible Fed stimulus plan to be announced during the FOMC meeting on Wednesday.
Another contributor to the rise or fall of commodities this week could be the report of U.S. Housing Starts for May 2012 by the U.S. Census Bureau this Tuesday. In recent months, gold and silver have had a negative correlation with the number of housing starts. With the ongoing decline in the housing market, this is almost certain to ensure a continued increase in gold and silver markets.
While it is difficult to predict the outcome of such events, it is likely that precious metals will fluctuate slightly this week and continue their steady upward trend.