Gold Spot Price Open: $1,731
Gold Spot Price Close: $1,729
Change in Gold Spot Price:-$2
Silver Spot Price Open: $32.63
Silver Spot Price Close: $32.46
Change in Silver Spot Price:-$0.17
On the opening day of the week both gold and silver took a bit of a dive when it was all said and done, but the foreseeable future looks promising. At the end of the day gold lost about $2 and silver dropped right around 17 cents. With the “fiscal cliff” fast-approaching, most investors and experts are believing that gold will reach and maintain the $1,800 mark, at least for a while.
While trading was quiet in the United States due to the honoring of Veterans Day, the majority of Europe is delved deep into the ever growing issue that Greece has become. While things spiral out of control for the Greeks, there is still much that has to be done before any EU bailout money is given to them. The Greek Parliament passed new austerity measures last week but that has done little to ease the mounting tension in Athens and elsewhere in Greece.
News from China and Japan remain mixed with positive trading news stemming from China but poor economic data coming out of Japan. In the midst of it all the US Dollar is remaining strong and is expected to stay strong in the short-term. While today’s trading may have been muted due to a US holiday, this week should hopefully be a positive one for both gold and silver.
