Daily Spot Price Update 11/30/2016

Metal Open Close Change
Gold $1191.10 $1172.18 – $18.92
Silver $16.71 $16.48 – $0.23
Platinum $923.50 $915.30 – $8.20
Palladium $766.53 $776.00 + $9.47

Summary

Gold, silver, and platinum all fell on 11/30, while palladium saw an increase.

How Government Money Manipulations Affect Gold

Negative interest rates and inflation can make your money less valuable than it once was, which is why many people turn to buying precious metals that can’t be affected by negative interest rates. India represents a prime example of this since their government decided to abolish the 500 and 1,000 rupee notes. Paper money began trading at a discount to face value and the banks are running out of cash, causing Indian citizens to create alternative forms of payment like bartering and buying gold. In fact, gold is now selling in India for over $2,000 per ounce, while it remains under $1,200 per ounce in most world markets. The European Central Bank has also announced that the production of new 500 euro notes will be discontinued.

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