Precious metals futures fluctuated on Thursday as economic indicators signaled that the U.S.' economic recovery may strengthen in the coming months. If activity picks up, inflation could rise and drive demand for solid assets.
Gold futures and silver futures both slipped, though gold's price movement was minimal. Silver futures declined more dramatically after early gains, and gold continued its flattening trend on Friday.
"You're at the bottom of the trading range, and so there will be bargain hunters," Frank McGhee, head dealer at Integrated Brokerage Services, told Bloomberg.
As the debt crisis continues tearing through European banks, many analysts and investors are expecting prices for precious metals to increase as they did last year. Values for gold, silver and palladium increased 30 percent, 84 percent and 96 percent, respectively, in 2010.
The head dealer said some circumstances might see a reversal in who buys and who sells precious metals.
"If all the jobs numbers come to fruition, there will be some element of reflation, and the initial sellers in gold this week will become buyers," McGhee said.
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