Gold Spot Price Open: $1,678
Gold Spot Price Close: $1,687
Change in Gold Spot Price:+$9
Silver Spot Price Open: $30.99
Silver Spot Price Close: $31.21
Change in Silver Spot Price:+$0.22
After a remarkably disappointing week for both silver and gold last week, the metals rebounded slightly on Monday. Gold rose roughly 9 dollars while silver only picked up 22 cents. Many attribute the relatively small change in the price of gold and silver to the upcoming US presidential election and what the results of the election mean for investors in precious metals.
Many believe that if Barack Obama is reelected the atmosphere may be beneficial to investors of gold and silver. The reason behind this school of thought is that if Obama carries out another four years of reckless spending and fiscal incompetency the dollar will weaken.
A win for Mitt Romney could mean quite the opposite because his plan to cut useless spending could mean for a stronger dollar and a not-so hospitable environment for gold and silver investors.
We will truly be able to get a good picture of the immediate futures of both gold and silver once the election is completed after tomorrow.
