Gold Spot Price Open: $1,693

Gold Spot Price Close: $1,701

Change in Gold Spot Price:+$8

Silver Spot Price Open: $32.80

Silver Spot Price Close: $33.07

Change in Silver Spot Price:+$0.27

Thursday was yet another day where both gold and silver did not do much moving around. Gold was up, but only by about 8 dollars and silver finished up three pennies shy of 30 cents.

Tomorrow is the release of the latest nonfarm payroll data and that could possibly have implications on precious metals' movements, depending on how positive or negative the data is. As the end of the year approaches, more and more investors continue to have looming concerns about the future of US monetary policy and like we have been saying for quite some time any decision made in regards to monetary policy will have major implications on the price of gold and silver.

The president of the European Central Bank has expressed the need for more stability in regards to fiscal policy throughout the continent but before any stabilization can occur Europeans may have to weather another year of unpredictability in 2013. In fact, projected growth in Europe during 2013 is currently sitting at almost negative one half of a percentage point.

Keep in mind that tomorrow's nonfarm payroll data may look better than it actually is as the digits were probably skewed due to the Superstorm that ripped the Northeast US earlier in November.