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Zimbabwe - Monthly Economic Review - June 2012
The precious metals market along with many other markets including commodities, stocks and foreign exchange markets tumbled during most of May 2012. Both gold and silver registered their worst performances during the month of May and the prices are the lowest since December 2011. Several factors may have contributed to the decline of precious metals prices during May including the concerns during the fi rst couple of weeks over the results of the French and Greek elections, the tumble down of the Euro/USD during most of the month; the renewed speculation around the potential departure of Greece from the EU; the sharp depreciation in major currencies including Indian Rupee, Euro, Aussie dollar; and the positive news from the U.S. economy mainly in the housing market.