Gold Spot Price Open: $1,262

Gold Spot Price Close: $1,269

Change in Gold Spot Price: +$7

Silver Spot Price Open: $20.10

Silver Spot Price Close: $19.96

Change in Silver Spot Price: -$0.14

Gold and silver posted mixed results to end what has been a quiet, yet interesting week. When all was said and done, gold gained 7 dollars while silver actually lost a little more than 10 cents.

Gold has now gone 5 consecutive weeks without posting a weekly loss which, combined with faltering US equities, may be the impetus for an extended bullish run by the yellow metal. Today saw gold cross the $1,260 threshold and even make it as high as $1,271 before falling slightly towards the end of the day. The overall outlook on US equities is becoming a bit more bleak as of late, especially with further tapering becoming an almost guaranteed outcome of next week's FOMC meeting according to the Wall Street Journal.

Some market analysts think that gold may approach $1,290 or even $1,300 before suffering any sort of real pullback. With that being said, however, the outcome of next week's FOMC meeting may have some sort of potentially negative impact on gold's spot value, even if only for a day or two. If QE is reduced next week the US Dollar will likely surge in value, something that would definitely put temporary downward pressure on precious metals. Apart from that small bump in the road, most market experts are saying that the skies are clear for gold to make gains and potentially reach highs we have not seen in a half year or more.

As it stands, next week is shaping up to be the most exciting 5-day session we have experienced thus far in 2014. Apart from the FOMC meeting investors will have plenty of economic data to mull over from both the United States and elsewhere across the globe.