Gold Spot Price Open: $1,243
Gold Spot Price Close: $1,239
Change in Gold Spot Price: -$4
Silver Spot Price Open: $19.92
Silver Spot Price Close: $19.74
Change in Silver Spot Price: -$0.18
Gold and silver finished the day down, but only slightly amid a quieter marketplace a day ahead of the Thanksgiving holiday in the United States. When all was said and done, gold lost about 4 dollars while silver’s losses came in closer to twenty cents.
Though many Americans were out of the office today, there was plenty of economic data for investors to mull over. The data was neither overly upbeat nor overly disappointing, but it did cause the US Dollar to make some marginal gains. Even though gold and silver never looked like making large gains on the day, a stronger USD ensured that they wouldn’t.
In other news, it was reported that US military planes flew over a disputed grouping of islands in the East China Sea. China has persistently claimed that the uninhabited islands are their’s, but so has Japan. The US sending planes over the islands’ airspace was a bold move that has yet to be addressed by the Chinese government. This event, though minor, may very well end up renewing interest in safe-haven precious metals investments. China’s reaction to the US’ military move will be interesting to hear seeing as the US is allies with both China and Japan.
As we bring the month of November to a close, investor focus will begin to shift to the upcoming December FOMC meeting. This meeting will be of monumental importance to investors because, as is always the case, they stand the chance to hear about the possible future of monetary policy in the United States.
Despite tomorrow being a holiday in the United States, things will pick back up on the last day of this week as more economic reports are due out of the United States.
