Gold Spot Price Open: $1,655
Gold Spot Price Close: $1,665
Change in Gold Spot Price:+$10
Silver Spot Price Open: $30.88
Silver Spot Price Close: $31.45
Change in Silver Spot Price:+$0.57
Gold and silver both progressed in value on Tuesday after news that the Fed in the US will continue its Quantitative Easing policies. Gold finished the day up about ten dollars while silver finished three cents shy of plus 60. In addition to the news stemming from the Fed’s continuation of its current policies, a weaker US Dollar also contributed to the rise of precious metals.
The news out of Europe is that some important parts of the eurozone may begin to see economic improvement, at least for a short while. The euro is currently trading at a value that is the highest it has been in over a year.
What really matters for the rest of the week is any more news that may potentially stem from the Fed and the release of US jobs data on Friday. As always we will continue to keep our eye on outside markets and the possible meaning their activity may have for gold and silver.
