Gold Spot Price Open: $1,261
Gold Spot Price Close: $1,262
Change in Gold Spot Price: +$1
Silver Spot Price Open: $19.26
Silver Spot Price Close: $19.27
Change in Silver Spot Price: +$0.01
Gold and silver spot values were feeling an upside lift by the time markets closed on Wednesday, but it really had only a minor impact on spot values. When all was said and done, gold managed to pick up just about a dollar while silver closed roughly a penny higher than where it opened.
The marketplace was generally quiet for yet another day this week as precious metals investors continue to await some type of catalyst capable of boosting the spot values of gold and silver. As has been the case since Monday, it is not looking like that catalyst will be found this week as the next few days are shaping up to be just as lackluster as the past few have been. Tomorrow will see a good amount of investors paying attention to the weekly jobless claims report, but this, like most other points of interest this week, is only being watched over due to a lack of any other fresh economic or geopolitical developments.
Sputtering US equities today provided gold and silver with some temporary respite from recent downward pressure that has been weighing on metals for the past few weeks. As was made painfully clear by today’s price action, however, a noticeable sell of in the US equities market is not all it takes to help precious metals spot values climb too far higher.
There have been reports with regard to a militant group seizing control of a key region of Northern Iraq, and it is said that these reports, should they continue, will possibly help bring about some safe-haven demand for both gold and silver. With that in mind, however, it is important to note that reports stemming from Northern Iraq are still preliminary and the situation has yet to be fully and accurately assessed by the world’s major media outlets.
