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May 28th Early Week Silver Market Update

With the weekend and Monday bringing little news in regards to precious metals, we can expect Tuesday to be a different story entirely. As citizens of the United States took the day off on Monday in observance of the Memorial Day Holiday, little movement was recorded in the metals markets and in much of the rest of the world. As Tuesday got underway, gold lost closer to ten dollars right out of the gate while silver lost a little over twenty cents. With some economic news expected to be released in the United States, that is what investors will be paying closest attention to.

US Economic News

After last week confirmed the rumors circling around the subject of monetary easing in the US, investors will take a new interest in every bit of news regarding the US economy. On Tuesday the US manufacturing index, housing price index, and consumer confidence index are all going to be announced.

Every time these reports are released, investors keep a close eye on them, but with the future of Quantitative Easing in limbo right now, economic numbers from now forward will carry a heavier weight as far as speculation goes. These reports will be early indicators if the US economy is growing, stagnating, or contracting in the first part of 2013.

Uneventful Early Week Proceedings

Despite there being a substantially small amount of market-related news stories to report in the early parts of Tuesday, gold still managed to post disappointing numbers. Typically, marketplaces are significantly quieter than normal after a holiday in the US, but gold has fallen straight away the day after Memorial Day.

Perhaps the blame can be placed on moderately higher US and European stocks. After last week’s temporary lull, Asian markets are once again posting impressive numbers as well.

In other news, a board member of the European Central Bank said the region and bank plan to retain easy monetary policy for as long as they deem it to be necessary. While the US is in talks of toning down their monetary policy in the near future, much of the rest of the world is in the midst of very aggressive money policies. So far it has done a good job of boosting economies in places like Germany and Japan, but it is unclear as to how it will fare for these nations in the long-run.

What Else to Watch For

As the week moves forward the biggest thing investors will have their eyes on are world stock markets. In addition to that, investors will keep their eyes peeled on how the Japanese Yen and the US Dollar interact. Lately the USD has been gaining rapidly against the Yen, though at the end of last week these gains were slowed a bit.