Gold Spot Price Open: $1,458
Gold Spot Price Close: $1,463
Change in Gold Spot Price:+$5
Silver Spot Price Open: $24.07
Silver Spot Price Close: $24.10
Change in Silver Spot Price:+$0.03
Gold and silver posted minimal gains on Friday as investors were fairly satisfied with how this week as a whole has gone. Friday saw gold pick up about 5 dollars while silver was only able to manage a gain of about 3 pennies.
Finally we were able to look back at the past few days and be positive with how both gold and silver acted. Instead of a 5 day period of loss, much like we have been seeing as of late, gold and silver actually made fairly substantial gains. Thanks to demand all over the world and especially in Asia, gold was able to pick up over $50 whereas silver’s gains closed in on a whole dollar. In such unsure economic times, investors are not sure what to do with their money, and so long as gold and silver continue to remain strong, precious metals will become a more enticing option.
Budget cuts are going into effect everywhere you look in the United States and this is one of the big factors behind why the economy has been slowing down as of late. Only time will tell if gold will be able to sustain this short-lived growth, although many experts think it will. Recently reported was that Russia and Turkey, among other countries, have been buying up more and more gold. This news only gives people more confidence in the idea of investing in precious metals.
