Daily Spot Price Update 2/9/2017

Metal Open Close Change
Gold $1243.10 $1226.64 – $16.46
Silver $17.86 $17.64 – $0.22
Platinum $1022.40 $1007.00 – $15.40
Palladium $775.90 $768.88 – $7.02


All metals took a significant dip on 2/9.

Germany is Bringing Home the Gold

Over the past years, Germany’s central bank has relocated hundreds of tons of gold to be held in foreign vaults, specifically in New York and Paris. This practice began during the Cold War, when gold reserves were stored outside the country due to fear of Soviet invasion. More recently, critics have said that gold store abroad could be tampered with or that Germany may have issues retrieving gold at any given point in time. As of this week, Germany has said it has sped up the process of bringing this gold home in an effort to be more transparent. The majority of Germany’s gold reserves should be back in the country by 2020.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s