Gold Spot Price Open: $1,311

Gold Spot Price Close: $1,311

Change in Gold Spot Price: NO CHANGE

Silver Spot Price Open: $20.07

Silver Spot Price Close: $20.05

Change in Silver Spot Price: -$0.02

Gold and silver spot values didn’t do much moving on a Tuesday that was full of US economic data. When all was said and done, gold finished the day about where it started it and silver declined by only a few cents.

There was a heavy slate of US economic data due out today, but in the end it didn’t have any major impact on spot gold or silver. Among today’s data was the US home prices index, the monthly house price index, new residential sales, and the latest consumer confidence survey. In Europe, consumer confidence was also down mostly due to the crisis in Ukraine. The US Dollar made gains against the euro currency today, another factor weighing on spot gold and silver.

The group of nations formerly known as the G-8 voted on a motion to remove Russia today. The motion passed and the group is now going to be known as G-7, for obvious reasons. The market had anticipated this move, therefore it had little to no impact on the spot values of gold and silver. Over the next few weeks you can expect the EU and the United States to place any number of sanctions on Russia in response to their takeover of Crimea.

Apart from today’s US economic data, there really wasn’t much for the investing world to concern itself with. Traders are still worrying about the Chinese economy after Monday’s poor manufacturing data and rumors that the Chinese central bank may inject some new monetary stimulus to aid their fading economy. It isn’t only this week’s poor Chinese data that is making the central bank consider new stimulus measures, but the accumulation of poor data over the course of the past few months.