Posted on April 25, 2013
Gold Spot Price Open: $1,424
Gold Spot Price Close: $1,470
Change in Gold Spot Price:+$46
Silver Spot Price Open: $22.94
Silver Spot Price Close: $24.43
Change in Silver Spot Price:+$1.49
Gold and silver both made fairly large forward progress on Thursday as both metals had a day of good gains. When all was said and done gold was up about 46 dollars while silver gained a penny short of a dollar and a half.
As you are probably well aware, warring nations across the world often mean big news for precious metals. That is no different today as the United States’ accusation that Syria used chemical weapons against its own citizens is one of the main culprits behind gold’s nearly 50 dollar jump. The news surrounding Syria was not the only headline that helped gold move forward as many are beginning to see a trend of gold leading the entire commodities sector. Over the last few weeks you can see that the prices of commodities like oil have risen and fallen in value in the same fashion as precious metals. Being a leading commodity will only boost the general public’s interest in gold.
The US dollar had an off day on Thursday and this, for obvious reasons, was another positive in the precious metals investor’s eyes. It seems as though gold and silver are back to stay after their recent drop-off over the past few weeks. High profile investors all over the world have voiced their renewed interest in the metal, not to mention the absolutely insane pick up in demand for gold all over Asia.
Let’s hope that tomorrow brings with it another positive day for precious metals so we can end a week in positive fashion, unlike what metals have done the last few weeks.