Gold and Silver Price Update-Metals Expected to Remain High.

Gold futures slightly declined after rising for the better part of the past several weeks. Gold futures decreased by 0.02 percent to USD $ 1537 an ounce. Silver continued its upward trend, with prices rising by 0.98 percent to USD $ 38.235 an ounce.

Gold slightly fell ahead of the holiday in US and UK markets on Monday. However, its long term trend is expecting to continue increasing in lieu of a number of factors. There has been a lot of talk over whether Greece would be able to avert its economic crisis after receiving the 110 billion Euro bailout package from the EU last year. The situation in Greece does not appear good, and there are growing voices over the need to restructure the country’s debt. Furthermore, the Dollar Index fell by almost 1 percent, thus spurring the demand of gold and silver.

Investors searching for volatility are crowding towards silver. With the global economy appearing in a precarious condition, the gold and silver are expected to increase in the coming days.