Gold Spot Price Open: $1,681

Gold Spot Price Close: $1,689

Change in Gold Spot Price:+$8

Silver Spot Price Open: $31.51

Silver Spot Price Close: $31.79

Change in Silver Spot Price:+$0.28

Both gold and silver gained a little bit of ground on Thursday which cancelled out the stagnant day on Wednesday and improved upon early week results. Gold ended the day up about 8 dollars while silver was two cents shy of picking up a whole thirty cents.

In the past few days there was a bit of negative economic news surfacing, and although the news was relevant to most other markets, the precious metals markets barely moved at all in response. Thursday was a new day and the news was quite different, in fact the news was that unemployment benefits applications had receded so far that they were at their lowest point in about four years. This, coupled with positive news from the housing market in the US, would make most think gold would retract but it withstood the early pressure and ended the day in a strong position.

Other than the news in the US, most other world markets remained quiet and did not do much to move precious metals in any direction.