Daily Spot Price Update 1/30/2017

Metal Open Close Change
Gold $1195.39 $1203.20 + $7.81
Silver $17.21 $17.25 + $0.04
Platinum $988.45 $996.50 + $8.05
Palladium $735.25 $750.65 + $15.40

Summary

All metals saw an increase on 1/30, with palladium rising the most.

Gold Still Riding Low

After hitting a two-week low last week, gold picked up on a small amount of traction on Monday. This comes after Trump’s ban on travelers and refugees from Muslim-majority countries, which may have contributed to the safe haven appeal of gold. But this slight upwards movement lacked momentum. Meanwhile, the US Dollar Index has reversed some early losses, which typically causes a flow away from dollar-denominated commodities like gold. Investors may also be lying in wait ahead of this week’s Fed monetary policy decision.

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