Gold Spot Price Open: $1,660

Gold Spot Price Close: $1,661

Change in Gold Spot Price:+$1

Silver Spot Price Open: $30.10

Silver Spot Price Close: $29.97

Change in Silver Spot Price:-$0.13

Gold and silver both remained, as many thought they would, relatively flat on Wednesday. Gold picked up only one dollar while silver dropped a little over a dime.

As many expected, trading in the US market was very quiet because of it being the day after Christmas and apart from the constant worry of the fiscal cliff there is not much other market relevant news to report out of the USA. Markets in the UK were closed for a second straight day as the English celebrated the Boxing Day holiday.

The only market where we can report on precious metals relevant news is Japan, believe it or not. The Japanese announced that they are going to be stimulating their economy in order to make it stronger. Over the last few days gold has remained relatively stagnant and until any more news on the fiscal cliff is heard, we can expect a lot of the same.