Gold Spot Price Open: $1,595
Gold Spot Price Close: $1,597
Change in Gold Spot Price:+$2
Silver Spot Price Open: $28.37
Silver Spot Price Close: $28.40
Change in Silver Spot Price:+$0.03
Gold and silver both finished the week fairly stagnant as the overall outlook on this week’s performance was fairly dismal. When the dust had cleared gold picked up about 2 dollars on the day but it was not enough to bring it over the $1,600 mark to end the quarter. Silver finished up about 3 cents on the day which is about as unimpressive as its entire week has gone.
Due to the observance by many Christians throughout the world of the Good Friday holiday, trading was fairly quiet on Friday. It seems as though the end of the bailout crisis in Cyprus has also ended the prospects of gold being a safe-haven asset to buy into. Not only that, but the US economy ended the first quarter of the year today and it is safe to say that greenback supporters are more than happy with the USD’s performance throughout the first few months of the year. The booming US economy has caught most of us by surprise and has done a good job of preventing gold and silver from gaining any lasting amount of positive ground.
Another situation that is starting to butt its head into the news is the happenings on the Korean peninsula. US and South Korean joint military exercises that have been going on for a few weeks now are really starting to get on the nerves of North Koreans who continually threaten that the outbreak of war which will involve the three aforementioned countries and countless others is very close. Usually we shy away from talking about military conflicts on here, but one that involves the US and South Korea, two very prominent economic powers, could spell for some crazy times at the marketplace. As we move forward we will keep our eyes locked on this situation and many more throughout the world in search of all events that will affect the gold and silver marketplace in one way or another.
