Gold Spot Price Open: $1,593
Gold Spot Price Close: $1,593
Change in Gold Spot Price: —
Silver Spot Price Open: $28.85
Silver Spot Price Close: $28.85
Change in Silver Spot Price:–
Gold and silver ended the day Friday the same way they started, bringing an end to a decent, yet not very fantastic week. Gold finished at $1,593 and silver finished at $28.85.
Following more strong economic data out of the United States on Friday, gold had another day of tough treading. As has been the case for the past few weeks, gold and silver had to fight against multiple sources of downward pressure such as improved employment and consumer data.
The biggest issue in markets around the world is a lack of confidence by investors. With very few stock markets able to sustain any sort of positive trends it is not like you can blame investors either. Apart from the US, few markets in the world are seeing any sort of positive news, at least not sustained over any substantial period of time.
Hopefully next week will see some better news for precious metals markets, but investors aren’t holding their breath. A main focus will be China and Europe because the Asian country seems to be falling off as far as production output goes. Europe as a whole is still seeing the largest lack of investor confidence and unless nations get together in order to reach a solution, one can only imagine things are going to get worse.