Daily Spot Price Update 11/2/2016

Metal Open Close Change
Gold $1292.64 $1306.45 + $13.81
Silver $18.49 $18.66 + $0.17
Platinum $996.00 $998.60 + $2.60
Palladium $634.20 $633.00 – $1.20

Summary

Palladium took a small dip on 11/2, while all other metals increased. Gold saw the most significant rise.

Steady Job Growth Reported

The Gallup US Job Creation Index surveys a random sample of employed Americans across all industries for data about companies’ hiring and firing decisions. The latest report showed continued strength in October, with more hiring than firing reported.

Gold on the Rise Due to Political Uncertainty

Gold has seen significant increases this week, largely due to the upcoming presidential election. Between Brexit earlier this year and now the election, the political and economic uncertainty has investors turning to gold as a safe haven investment. The value of gold is also hinged on the upcoming Fed meeting next month when it will be decided whether or not to increase interest rates.

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