Daily Spot Price Update 1/18/2017

Metal Open Close Change
Gold $1215.62 $1205.19 – $10.43
Silver $17.21 $17.07 – $0.14
Platinum $983.65 $967.50 – $16.15
Palladium $753.45 $751.90 – $1.55

Summary

All metals decreased in value on 1/18, with platinum taking the biggest dip.

Is the Dollar Too Strong?

President-elect Trump recently made comments about the dollar being too strong. Industry professionals were not surprised to hear him say that because a strong dollar goes against what the Trump administrations favors, namely building up manufacturing in America. Why? A strong dollar increases the costs of exports for foreign buyers, and it also threatens the economic stability of emerging-market nations. After a two-decade policy of publicly favoring a strong dollar, Trump is now saying things that are unprecedented by a US president. He has also said that American companies can no longer compete against Chinese companies because of the strength of our dollar.

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