Gold Spot Price Open: $1,724
Gold Spot Price Close: $1,732

Change in Gold Spot Price:+$8

Silver Spot Price Open: $32.19
Silver Spot Price Close: $32.67

Change in Silver Spot Price:+$0.48

Both gold and silver ended the week on another positive day Friday with gold picking up about 8 dollars and silver almost a half dollar. With the fiscal cliff on everyone’s minds, more and more people are turning to gold and silver as safes places to store their wealth.

Additionally, a majority of European economies are doing little to facilitate growth, and thus more and more people are losing faith in the euro.

President Obama has organized for members of both Democrat and Republican parties to meet about the spending and taxing decisions that make up the fiscal cliff but has retained his stance on increasing taxes on those making $250,00+ per year. Gold investors should be feeling a lot better at the end of this week than they did last week after seeing the metal make a 3.3% increase over the past 5 days.