Daily Spot Price Update 10/11/2016

Metal Spot Price Open Spot Price Close Change
Gold $1260.65 $1259.55 – $1.10
Silver $17.79 $17.63 – $0.16
Platinum $971.25 $1956.25 – $15.00
Palladium $670.13 $651.00 – $19.13


Gold and silver saw slight dips on 10/11, while platinum and palladium saw more substantial falls in value.

A Falling Small Business Optimism Index

The small business optimism index, which is compiled from a monthly survey, fell 0.3 points in September. This marks the second consecutive monthly decline. Job openings are shown to be strong, though small businesses are having trouble filling them. On a positive note, there was a 5 point increase in the net percentage of business owners expecting higher sales volumes.

Decling Gold Imports

Between January and September, India’s gold imports declined by 58.96 percent. This is likely due to a strike by jewellers and a 10 percent custom duty on imports. The duty has also increased the rate of gold smuggling. However, D.S. Rawat, Secretary General of Assocham, says the outlook for gold remains upbeat.


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