Gold Spot Price Open: $1,716
Gold Spot Price Close: $1,679

Change in Gold Spot Price:-$37

Silver Spot Price Open: $32.27
Silver Spot Price Close: $30.96

Change in Silver Spot Price: -$1.31

A bad week for gold and silver has finally concluded on what may have been the worst day of the week for both metals. The highly anticipated US non-farm job report was announced today and it showed that the incidence of unemployment is subsiding in the US. The better than expected jobs report may be a sign that the economic stimuli that were instituted almost 4 years ago just might be showing signs of success.

With news of the Spanish manufacturing sector slowing down even further in October it is no surprise that stocks in the European market took another dive. It has been a while since we have seen gold drop almost $40 in one day and things probably will not get too much better until after the US presidential election next Tuesday.

This concludes the end of a very disappointing week for both silver and gold and hopefully gold can get its head above the $1,700 mark once more by this time next week.