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Gold and Silver Investments Flat Ahead Of Data Release

The gold and silver markets are breathing very softly this afternoon as investors appear to be hesitant to buy or sell before our nation’s latest economic data is released. The U.S. Commerce Department is expected to release a slew of data later today, and Eurozone bankers and governmental departments are poised to release their own pools of data on Thursday and Friday.

By 1pm EST the gold spot price was $1406, up $5 for the day. Silver gained ten cents on the day so far, leaving the white metal at $22.66 per ounce according to the COMEX division of the New York Mercantile Exchange (NYMEX). In the last month, gold is down a little more than four percent while silver has lost almost six percent of its value. The 365-day tally for gold and silver is 13 percent down and 20 percent down, respectively.

“Bankers and household investors are not buying and selling in equal amounts to keep the spot prices of gold and silver at an even keel,” said Steven Davidson, market analyst for GoldSilver.org. Lately we have become used to swings of $20-$30 per ounce daily, but with all of the new economic data that has yet to be released, traders and part-time investors are simply holding on to what they have until the numbers dictate the next move.”

Individuals who wish to track not only gold and silver prices but also the trends of the gold and silver markets are encouraged to visit the Gold Silver Daily Market Update three times each week, starting this Friday. Additionally, we have partnered with one of America’s leading gold dealers to provide you with complimentary copies of the investment guides below.

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