Gold Spot Price Open: $1684
Gold Spot Price Close: $1717

Change in Gold Spot Price:+$33

Silver Spot Price Open: $31.11
Silver Spot Price Close: $32.03

Change in Silver Spot Price:+$0.92

It’s only Tuesday and both gold and silver seem to have made a huge rebound from the terrible last week they had. Gold was up roughly $33 while silver was up just 8 cents shy of a dollar. Despite each Presidential candidate’s plans for the United States’ monetary future, many believe that the initial elections results will have little impact on the price of gold and silver as economic plans are not instituted the day after the election. When the newly elected president takes office in January, then you will see a more bullish or bearish market (depending on the victor).

In Europe, even a downward turning economy did not stop eurozone stocks from seeing a positive day. The Greek Parliament is set to have an official vote on austerity dealings Wednesday and the decision of that vote can have a decent impact on the European economy and stock markets.

Tuesday also marked the day where Australia’s Central Bank convened to discuss the future of their monetary policy but little news to report there as it seems few substantial changes are being instituted.

A slightly weaker US dollar could be part of the reason Gold and Silver prices rose today but diminished interest in the US Dollar can only be expected after it hit its two-month peak yesterday. Hopefully both gold and silver repeat and improve on their performance through Tuesday as the week progresses.