Daily Spot Price Update 2/6/2017

Metal Open Close Change
Gold $1225.05 $1234.85 + $9.80
Silver $17.64 $17.75 + $0.11
Platinum $1010.75 $1016.65 + $5.90
Palladium $763.58 $773.80 + $10.22

Summary

All metals saw a decent increase on 2/6.

A Gain in American Jobs

A recent jobs report delivered data that shows 227,000 American jobs were added in January. Though this report was released under Trump’s administration, the survey was conducted while Obama was still in office; so the new administration’s ability to create jobs is still a point of economic uncertainty, one that has been driving up the demand for gold bullion. Of those 227,000 jobs, 76,000 are retail/restaurant jobs, 36,000 are construction jobs, 32,000 are financial services jobs, and 18,000 are healthcare jobs. However, both the unemployment rate and the underemployment rate rose in January. There are still approximately 5.8 million Americans with part-time jobs who are seeking full-time jobs.

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