Posted on February 21, 2013
Gold Spot Price Open: $1,580
Gold Spot Price Close: $1,577
Change in Gold Spot Price: -$3
Silver Spot Price Open: $28.69
Silver Spot Price Close: $28.71
Change in Silver Spot Price:+$0.02
Thursday was finally a day where gold and silver didn’t see bad news, but at the same time good news was still hard to come by. At the end of the day, gold remained fairly flat, falling only about 3 dollars. Silver too remained flat as it picked up no more than a few pennies.
One of the few reasons gold did not continue to slip on Thursday was because of bargain hunters who purchased gold after its massive decline over the past few days. Investors should be satisfied with Thursday’s results even though they do not look impressive because during the overnight hours gold hit its lowest point in over 8 months. This has truly been a disastrous last few days for precious metals of all types.
More negative news stemmed from Europe as it does not seem like they are going to be able to turn things around anytime soon. If Germany cannot set an example for the rest of Europe to follow, many nations are going to fall into a deep recession. Tomorrow will wrap up this tumultuous week and will hopefully have some good results for precious metals.