shopper approved
    2654.85
    3.88
    31.07
    -0.11
    955.62
    -4.06
    1004.82
    5.06
    banner-update21

    JM Bullion Gold and Silver Market Update (12/14/12)

    Gold Spot Price Open: $1,697

    Gold Spot Price Close: $1,698

    Change in Gold Spot Price:-$1

    Silver Spot Price Open: $32.41

    Silver Spot Price Close: $32.37

    Change in Silver Spot Price:-$0.04

    Gold and silver both slipped a little bit further as we wrap up a disappointing week for precious metals. Gold was down just about a dollar while silver dropped only 4 cents. Most would see this as a day where the values of both gold and silver went unchanged, but both metals did enough slipping yesterday to account for a whole week’s worth of losses.

    Eyes will be on Washington DC next week as politicians are still striving to reach a conclusion on spending and tax cuts (the fiscal cliff) before the Christmas holiday is upon us. If a more viable solution is not reached we can expect gold to suffer a little bit because the rise of gold’s value will be slowed down.

    While this week proved to be bad in the end for most investors in the US, European markets fared quite differently. Since fresh bailout money was approved to be shipped on over to Greece a large-scale crisis was avoided and so too was a slip in the progress of Greece’s recovering economy. On the whole both European stocks as well as the euro had a good week and will look to improve on this week’s results at the beginning of next week.

    Keep your eyes and ears open as any news related to the fiscal cliff may have major implications on gold and silver’s value going forward.

    Disclaimer: All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. and should not be construed as financial advice.

    Top Stories

    What is a Gold Ingot?
    How Much is Sterling Silver Worth
    How Much Do Gold Bars Weigh?
    Read More

    Subscribe to JM Bullion’s newsletter to receive timely market updates, sales and giveaways.