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    JM Bullion Gold and Silver Market Update (2/14/13)

    Gold Spot Price Open: $1,647

    Gold Spot Price Close: $1,635

    Change in Gold Spot Price: -$12

    Silver Spot Price Open: $30.95

    Silver Spot Price Close: $30.44

    Change in Silver Spot Price:-$0.51

    Gold and silver took yet another dive on Thursday as news of increased economic hardship in Europe was the main talking point today. By the time things wrapped up today gold was down about 12 dollars while silver finished 51 cents worse than when they started.

    News was released today that spoke to the fact that in the last quarter of 2012, the EU’s GDP had dropped by over half a percentage point. This may not seem like much, but for a region such as Europe to take a dive such as this is unlike anything we are used to witnessing. Europe isn’t the only economic region that is suffering in the early running of 2013 as Japan too is doing all they can to set things right as well.

    The only thing that has been certain as of late is that absolutely nothing is certain. Every type of market has been moving every which way and it has been tough for investors to gauge their next move, especially precious metals investors. We continue to hear that 2013 is still looking to be a positive year on the whole for gold, but the early run of things speaks quite fervently to the contrary. Tomorrow is when the G20 are set to hold a meeting and while investors are not expecting much big news relating to precious metals, recent history proves that you can never be too certain.

    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.

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