Daily Spot Price Update 1/6/2017

Metal Open Close Change
Gold $1178.78 $1174.56 – $4.22
Silver $16.48 $16.56 + $0.08
Platinum $970.25 $970.50 + $0.25
Palladium $745.48 $759.50 + $14.02

Summary

Gold dropped slightly on 1/6, while all other metals increased.

A Growing Job Market

December was the last full month for the Obama administration, and he will leave office with positive news for the American job market. Last month marked the 75th consecutive month of job gains, which is the best documented run. The US added over 2 million new jobs in 2016 alone, and we now have a low unemployment rate of 4.7 percent. Wage growth has been the most sluggish factor of the growing economy, yet wages increased 2.9 percent in December, which is the best pace since 2009. This is all considered a vast improvement after the recession, which saw an unemployment rate of 10 percent in 2009. Though the economy is still growing slowly, we’ve made significant progress. This was marked by the Fed’s decision to raise interest rates several weeks ago.

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