Gold and silver are trading about even on the day but are going to end the week having posted some solid gains. A few factors came to precious metals’ aid this week, including rising tensions in Ukraine and a somewhat downbeat US Dollar.

There was a healthy amount of US economic data released today, but most of it had little affect on spot gold or silver. Perhaps the most highly anticipated event of the week came on Thursday in the form of the FOMC’s minutes from their most recent meeting.The minutes offered very little in the way of new insight into the tapering of Quantitative Easing or when interest rates would be risen. As of now, however, investors have had time to reflect on recent Fed activity and are convinced that interest rates will not be risen for some time. This news prompted the market to take a more favorable view on gold and silver.

Weak Chinese Data Prompts More Concern

For a second consecutive month, China has recorded a drop in their exports. This news adds to recently growing concerns that the Chinese economy is on the slow down. Now, many market analysts are predicting that China’s economic growth for this year will be smaller than what was originally believed.

Having said that, however, Chinese officials have insisted that they are not going to rush into making any policy changes. There has recently been call for the central bank of China to use monetary stimulus measures to augment the recent dip in economic activity. We will continue to analyze China from an economic perspective over the coming weeks in order to see how things play out.

Crisis In Ukraine Resurfaces

Safe-haven demand for gold and silver was given a boost earlier during the 5-day trading session due to reports of an increased presence of pro-Russian demonstrations throughout Ukraine. These demonstrations, coupled with a large Russian military presence along the Russia-Ukraine border have caused investors to become a bit more anxious.

Just as soon as it seemed like the crisis in Ukraine was done and dusted, it made its way back to the forefront of investors’ concerns.

It will be interesting to see if spot gold and silver can hang on to these gains or if profit-taking over the weekend will drive values back downward. As it stands, gold is sitting above the $1,300 threshold while silver is hovering just above $20/ounce.