Gold Spot Price Open: $1,695
Gold Spot Price Close: $1,688
Change in Gold Spot Price:-$7
Silver Spot Price Open: $32.21
Silver Spot Price Close: $32.30
Change in Silver Spot Price:+$0.09
After hitting an impressive high yesterday, gold dipped back down in price on Wednesday. Silver was up 7 cents finishing the day on a minor positive note while gold dropped just about 7 dollars. While the drop in the price of gold is never a good thing, gold has been doing so well lately that a one day, 7 dollar set back will do little to worry investors.
It was almost inevitable in some people’s eyes that gold would drop today for the sole fact that it did so well yesterday. Once gold had hit its high yesterday, many investors saw today as a day to sell off some of their gold reserves in hopes of making some profit on their precious metals holdings. Tomorrow’s gold and silver prices may be affected by corporate earnings reports that are being released this week, with most eyes focused on Apple’s earnings report.
With Japan’s continuation of their monetary easing program and a weaker USD index, one can only imagine that gold and silver will continue to gain value. Stay tuned because it seems as though we are in for an exciting and hopefully profitable end of the week.
