Gold Spot Price Open: $1,317

Gold Spot Price Close: $1,310

Change in Gold Spot Price: -$7

Silver Spot Price Open: $21.75

Silver Spot Price Close: $21.74

Change in Silver Spot Price:-$0.01

Gold and silver did little moving on what ended up being a relatively quiet last day of the week. When all was said and done, gold lost about 7 dollars while silver lost only about a penny.

As expected, the main piece of news on everyone’s mind is the ongoing US government shutdown. Now that it is in its 4th day, the world economic atmosphere is one of increasing anxiety. Markets have already taken hits this week, and at this point, they are remaining mostly stagnant. The most disheartening piece of this whole shutdown is the fact that we are now in day 4 and seem to be no closer to an end than we were in hour 1.

With some of the lowest paid government employees being left without jobs due to this shutdown, it is no wonder that the American public is growing increasingly tired of their government doing nothing for them. While the shutdown is working as an underlying bearish factor for precious metals, the retention of Quantitative Easing could be metals’ saving grace going forward. The longer this government shutdown lasts, the longer we will have to worry about being thrown into financial upheaval, something that is very likely to happen.

Economic reports funded by the US government continue to be delayed and will be until the end of this situation. One of the reports being withheld due to the shutdown is the employment report from September. This information always seems to push the marketplace in one direction or another, but it seems as though we will just have to hold tight until we can see a light at the end of the tunnel in regards to the shutdown.

Keep your eyes fixated on the news this weekend as a breakthrough can happen at just about any juncture.