Gold and silver fared a bit better this week than they have in the past few weeks, thanks in large part to a quieter trading atmosphere. Because Christmas fell right in the middle of the week on Wednesday it was always going to be a week of thin trading volumes. While gold and silver managed some minor gains this week, US stocks continued their stellar performance that has now lasted more than two weeks.

Next week will be very similar to this one as the New Years holiday is scheduled for the middle of the 5-day session. As we bring this year to a close, investors will be assessing their positions as well as the moves they should be making in the early stages of 2014.

The Holiday Put A Damper On Trading

Monday of this week was the only day where we saw anything near normal trading volumes, and even then things were quieter and slower than usual. Most economic data out of the US and Europe ceased and with most people away visiting families or simply relaxing prior to the holidays, there really wasn’t much going on.

One thing that was made clear this week was that investor risk-appetite is still at an all-time high. Monday and Tuesday saw stocks continue to post gains and it began to seem like there was not a single investor out there interested in anything other than stocks.

Gold managed to pick itself up and eclipse the $1,200 threshold, but it is still flirting with danger in that regard. While precious metals were able to make gains this week it is hard to tell whether that is because we are seeing a renewed interest in safe-haven assets or if the gains were nothing more than a fluke outcome of what was an unusual week of trading.

Looking ahead to 2014 is a tricky thing to do at the present moment simply because it is impossible to tell what the future has in store for gold and silver. While there is a strong contingent of people on one side who thinks that the possibility of more QE tapering is bad for precious metals, the other side of the coin sees a boatload of fiscal problems and a potentially poor performing economy as a reason why 2014 may be a great year for metals. Nonetheless it is important that investors speculate about 2014 as they make their final investing move before the end of the year.