Gold Spot Price Open: $1,268

Gold Spot Price Close: $1,275

Change in Gold Spot Price: +$7

Silver Spot Price Open: $20.09

Silver Spot Price Close: $20.15

Change in Silver Spot Price: +$0.06

Gold and silver spot values rose a bit higher on Monday amid a quieter marketplace. When all was said and done, gold gained about 7 dollars while silver was able to pick up a little over 5 cents.

With few major economic or geopolitical events to report on Monday, the marketplace saw a limited amount of significant price movement. The USD held steady for a large majority of the day while US stocks traded a bit lower. Last Friday's weaker than anticipated non-farms payroll data has had a few days to settle in, and thus far it is being met with increased investor uneasiness with regard to the US economy as well as recent monetary policy decisions. The current run of poor economic data out of the United States has many investors questioning whether or not the Fed made the right decision when they decided to taper Quantitative Easing by $20 billion.

Despite today being a mostly quiet day of trading, the rest of this week may pan out a bit differently. Tomorrow, Janet Yellen will be making the first of her two annual policy testimonials in front of the House Financial Service Committee. Janet Yellen recently replaced Ben Bernanke as head of the US Federal Reserve. Two other Federal Reserve members will be addressing the House with regard to how they feel about the US economy as it stands as well as where it will be a short while in the future. Investors will be hoping that one of these three speeches will provide some insight as to whether or not the Fed is thinking about tapering its tapering.

Apart from the weekly jobless claims report, due out on Thursday, this week is going to be a light one as far as US economic data is concerned. Chinese investors finally made their way back to the marketplace today after taking the entirety of last week off in order to celebrate the Lunar New Year.