Gold Spot Price Open: $1,579
Gold Spot Price Close: $1,575
Change in Gold Spot Price: -$4
Silver Spot Price Open: $28.68
Silver Spot Price Close: $28.58
Change in Silver Spot Price:-$0.10
Gold and silver both finished about flat as Monday was a day of little market relevant news. At the end of the day gold lost about 4 dollars while silver finished down about a dime.
The United States government faces yet another critical deadline as budget cuts are about to take affect. Investors are remaining quiet as they await news stemming from the upcoming budget cuts. Many hope that Democrats and Republicans can join together in formulating a solution, but a deal does not seem to be very likely.
Investors are anxiously awaiting the US jobs report that is set to be released this Friday. The unemployment rate and raw economic data usually tends to push the price of gold in one direction or another.
Europe and their compounding debt problems are beginning to make headlines as there are not many other news stories to latch on to. Greece and Spain are the usual culprits but the problems throughout Europe extend much further than those two nations. A meeting that is taking place this week in Brussels is sure to bring about some stories that will affect precious metals prices. The topic of the meeting is the sovereign debt situation and possible remedies.