Posted on April 08, 2013
Gold Spot Price Open: $1,582
Gold Spot Price Close: $1,574
Change in Gold Spot Price:-$8
Silver Spot Price Open: $27.39
Silver Spot Price Close: $27.32
Change in Silver Spot Price:-$0.07
Gold and silver remained mostly flat on Monday as trading was quiet in the US and abroad. At the end of the day gold was down about 8 dollars while silver lost only about 7 cents.
Gold and silver did not benefit at all due to little to no US economic data being released on Monday. Despite this, most recent activites across world markets point in the direction that gold should be seeing an upward trend sooner rather than later. The dismal situation in Europe, tensions on the Korean peninsula, and a possibly cooling US economy are all reasons why investors may begin to take more notice to precious metals.
North Korea is still threatening the US and South Korea left and right which leaves most of the world relatively uneasy. One major move that happened over the weekend that is more eerie than anything is the fact that the North has called for workers, who work in a jointly operated North and South Korean factory, to return back home. This may be more strong language than anything else, but with countries that have large-scale weapons at their disposal these threats and actions must be taken with the utmost level of seriousness. The US is taking threats seriously as it has beefed up its military presence in the region. Many are still convinced that nothing is going to amount of the current situation, but we are keeping our eyes on it regardless because any type of war scenario tends to help physical metals like gold and silver.
In other news, the US dollar made small gains on Monday, but trading and movement was fairly subdued across the board.