Daily Spot Price Update 10/10/2016

Metal Spot Price Open Spot Price Close Change
Gold $1260.65 $11260.35 – $0.30
Silver $17.73 $17.77 + $0.04
Platinum $970.75 $971.00 + $0.25
Palladium $669.00 $670.15 + $1.15

Summary

While gold saw a minor fall, other precious metals had minor gains. All in all, the day’s price changes were not substantial.

The Dollar is Growing Stronger

Recent events-such as rising oil prices and Hillary Clinton’s improving poll position-are helping to make the US dollar stronger, says Marshall Gittler of FX Primus. This contributes to the thought that the Fed will raise interest rates later this year. This market is likely to cut the demand for gold, which saw a five percent drop last week.

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