Gold Spot Price Open: $1,690
Gold Spot Price Close: $1,691
Change in Gold Spot Price:+$1
Silver Spot Price Open: $31.95
Silver Spot Price Close: $31.94
Change in Silver Spot Price:-$0.01
Gold and silver both finished a strong week on a relatively stagnant note as Friday as little movement was reported. Gold was up barely a dollar and silver was down just about a penny on the final day of this week.
Throughout the week gold and silver were helped out by a number of things, including the continuation of Japan’s monetary easing program and the rise of the price of the euro. Whenever the USD rises gold typically acts in the opposite fashion, but when the euro rises gold usually jumps ahead and this week news of unchanged interest rates kept the euro on the rise and thus gold was on the up and up as well.
As we bring to an end the first successful week for precious metals in quite some time, we look forward to next week and everything that it may hold. If the euro continues to pick up ground you can expect both gold and silver to rise and since the US Mint has announced that it has run out of silver for making coins the price of silver is almost assuredly expected to rise next week.
