Gold Spot Price Open: $1,658

Gold Spot Price Close: $1,677

Change in Gold Spot Price:+$19

Silver Spot Price Open: $30.12

Silver Spot Price Close: $30.38

Change in Silver Spot Price:+$0.26

As we end the last day of 2012, we are happy to report that for the 12th year in a row gold has ended the year at a better spot than it was at at the beginning of the year. Gold and silver both seemed to be jumping for joy to see 2012 end as gold picked up about 19 dollars while silver gained one penny more than a quarter.

As we near the point of no return as far as the fiscal cliff goes, there was good news to report as President Obama announced that a deal has been reached; albeit only a partial deal. The partial deal was reached on the topic of tax cuts, but the issue of spending cuts remains unresolved. Congress and the President still have a few hours until the New Year and the beginning of our plummet off of the fiscal cliff in order to reach a deal but with each passing minute and hour hope fades a little bit more.

Most major markets only operated for a part of the day on Monday so trading news outside of every investor’s concern about the fiscal cliff remained relatively quiet. As we look forward to 2013, many experts believe that most economies around the world will have slowed and sporadic growth due to their inability to handle economic hardships throughout the whole of 2012.

From everyone here at JM Bullion, we would like to wish you a happy and safe new year and best wishes to you and your family in 2013.