Gold Spot Price Open: $1,717

Gold Spot Price Close: $1,699

Change in Gold Spot Price:-$18

Silver Spot Price Open: $33.68

Silver Spot Price Close: $32.98

Change in Silver Spot Price:-$0.70

On Tuesday, gold dropped a large bit of money, nearing almost 20 dollars whereas silver dropped, but not nearly as much.

Part of the blame for the decline of gold can be attributed to inaction within the United States as far as the future of fiscal policy is concerned. Also, the euro did extraordinarily well on Tuesday which means traders in Europe were more or less doomed from the start. The US Dollar also took a hit because of the euro's gain, but not nearly as much as gold did.

The inability to deal with the fiscal cliff in the United States is making a large quantity of investors angry as they will not know what to do with their assets until a deal is reached. The financial situation in Greece could, in the future, have some negative impact on the price of gold and the euro, but for now that issue seems to be resolved.