Daily Spot Price Update 1/23/2017

Metal Open Close Change
Gold $1216.16 $1217.75 + $1.59
Silver $17.24 $17.21 – $0.03
Platinum $985.00 $988.40 + $3.40
Palladium $794.75 $776.00 – $18.75

Summary

Palladium saw a sizeable loss on 1/23, while all other metals saw very small changes in value.

Gold on the Rise as Dollar Falls

The inauguration of our new president has unsettled financial markets and caused the dollar to weaken in value. This uncertainty has increased the demand for gold (and other precious metals), causing it to rise to the highest levels since November. In fact, gold has risen over five percent in the few short weeks of 2017 alone. It’s yet to be determined if Trump will upend policies or if he’ll create a healthier economy. Some industry professionals are admitting that economic activity under the Trump administration may not be as strong as previously thought. But only time will tell. In addition to gold, other metals that have increased in value include copper, lead, aluminum, nickel, and zinc.

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