Gold Spot Price Open: $1,709

Gold Spot Price Close: $1,713

Change in Gold Spot Price:+$4

Silver Spot Price Open: $32.96

Silver Spot Price Close: $33.53

Change in Silver Spot Price:+$0.57

Th result of the FOMC meeting today was not as decisive as many had thought and for that reason gold and silver improved by only modest amounts. Gold moved up 4 dollars while silver improved an impressive 57 cents. Today the Fed announced that they will continue to buy government bonds as one of their main ongoing strategies. This type of Quantitative Easing is unlike most other types in that usually gold's value is increased dramatically and quickly whereas today it only rose slightly. Many experts feel that gold's price will be increasing in the coming months, but at a slow rate.

The Fed said that they will continue this QE until the unemployment level reaches or drops below 6.5%. US stocks ended the day in disappointing fashion because the chairman of the Fed announced that even with the improved Quantitative Easing strategies, the full force of the fiscal cliff may not be able to be avoided.

There is little to report out of Europe today but stock prices and the euro currency were strengthened due to the FOMC meeting, but only by a little bit.