Gold Spot Price Open: $1,753
Gold Spot Price Close: $1,751
Change in Gold Spot Price: -$2
Silver Spot Price Open: $34.03
Silver Spot Price Close: $34.21
Change in Silver Spot Price:+$0.18
There are two main reasons why both gold and silver remained relatively stagnant on Monday. Silver finished on the positive today, up about 20 cents but gold finished down two dollars.
The first reason that gold and silver did not move very much is because there has been little change in negotiations over the future of monetary policy in the US. While Obama and others plan to meet this week to discuss the upcoming “fiscal cliff”, we have not heard anything one way or the other today.
The second reason there was little movement in the prices of precious metals was because the decision to bailout Greece has still not been reached. Not only does the EU not know how much money they are giving Greece, they have also yet to determine exactly when Greece will be getting the funds. Once news on the matters of Greece’s financial future leaks this week, you can expect precious metals to react.
