Posted on April 04, 2013
Gold Spot Price Open: $1,560
Gold Spot Price Close: $1,556
Change in Gold Spot Price:-$4
Silver Spot Price Open: $26.93
Silver Spot Price Close: $26.97
Change in Silver Spot Price:-$0.04
Gold and silver finally saw some relief from their 2-day landslide which started on Tuesday. At the end of the day gold was still down, but instead of double figures it was only 4 dollars. Silver was up at the end of US trading on Thursday but only by about 4 pennies.
If it isn’t the US stock market, it’s the US dollar; and this time the dollar had a good run of things on Thursday. Thanks to the USD’s good performance on Thursday gold and silver were kept in their place. So long as we keep hearing good news for the US Dollar and the US stock market it is unlikely tat gold or silver will be able to make too large of a comeback, barring incredibly large happenings outside the US.
The Central Bank of Japan announced today that it would continue its newly realized policy of monetary easing, following the lead of other countries, specifically the United States. Staying in Asia, the threats continue to roll out of North Korea towards both South Korea and Japan as tensions have done nothing but escalate all week long. It seems as though it is only a matter of time until something has to happen one way or another. Regardless of that, precious metals have not been very reactive to anything going on on the Korean Peninsula…at least not yet.
Finally, unemployment reports out of the United States indicate the the unemployment level has risen to its highest point since around last Thanksgiving. This also had little affect on precious metals.