Gold Spot Price Open: $1,296
Gold Spot Price Close: $1,296
Change in Gold Spot Price: NO CHANGE
Silver Spot Price Open: $19.66
Silver Spot Price Close: $19.68
Change in Silver Spot Price: +$0.02
The marketplace was significantly quieter as most of the world was celebrating Good Friday, also known as the beginning of the Easter weekend. When all was said and done, gold finished the day in the same position it was in when it started while silver was able to post marginal gains of a few pennies. As it stands currently, gold and silver are both sitting below key resistance levels of $1,300 and $20 respectively.
Gold and silver spot values remained unchanged for a majority of the day as very few investors participated in any trading today. Looking ahead to next week it is likely that the investing world will continue to fixate their attention on the ongoing crisis in Ukraine. Leaders from the US, Ukraine, Russia, and the EU continue to discuss how to handle the situation but have not come to any real consensus as to what to do. Russia seems dead-set on further provoking the violence taking place in Ukraine while the EU and the US are calling for an end to the violence. Safe-haven demand for gold and silver is still very much on the rise but is failing to improve spot values after recent technical selling.
This week has been an active one for gold and silver spot values but has more recently seen both metals take a downward trajectory. The fact that US equities performed better this week is yet another factor that prevented gold and silver from making any real gains. US stocks recently took a bit of a dip but are now on the path to recovery and are looking stronger heading into the weekend. If this kind of upward trend in the US equity market continues, gold and silver will be feeling even more downward selling pressure.
