Gold Spot Price Open: $1,687
Gold Spot Price Close: $1,669
Change in Gold Spot Price:-$18
Silver Spot Price Open: $32.38
Silver Spot Price Close: $31.68
Change in Silver Spot Price:-$0.70
Both gold and silver slipped on Thursday partly because of a report of falling unemployment numbers in the US. Gold dropped about 18 dollars and silver slipped roughly 70 cents.
The US Dollar picked up momentum on Thursday amid news that Americans are more readily able to find jobs. Even though gold slipped today, market experts are predicting that gold will maintain an average of over $1,700 before taking a significant decline in value during 2014. Of course these are just predictions and anything can happen between now and next year.
With that being said, a lot of prospective investors are wary about gold because it has recently been unable to cross over the $1,700 mark and remain there. After precious metals reached highs earlier in the week, things looked promising, but as the week is coming closer to an end it looks like gold may flatten out and end the week on a softer note.
In Europe the main news was that Spain’s already dismal unemployment rate rose over 25% in the last quarter of 2012. This is bad news for a country who is seeing historic unemployment rates and has been for quite some time now. Despite this news, Spain is set to see at least some economic recovery in 2013.
