Daily Spot Price Update 12/9/2016

Metal Open Close Change
Gold $1169.45 $1159.61 – $9.84
Silver $17.05 $16.92 – $0.13
Platinum $939.00 $920.00 – $19.00
Palladium $740.10 $732.50 – $7.60

Summary

All metals fell on 12/9, with platinum taking the biggest dip.

The Predicted Fall of Gold for 2017

As gold has been falling in value over the past several weeks, industry professionals have now predicted that gold will continue its retreat in 2017. This slump is connected to a growing global economy. Additionally, the Federal Reserve is expected to increase interest rates next week, with another two predicted rate hikes next year. Precious metal bullion, as a well-known safe haven investment, tends to drop in value during times of economic strength. However, there are still risks to the 2017 outlook that could affect these predictions. Two big risks include the uncertainty of a Trump presidency and the UK’s negotiations to leave the EU after the Brexit vote earlier this year.

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