Daily Spot Price Update 6/5/2017

Metal Open Close Change
Gold $1282.34 $1286.55 + $4.21
Silver $17.61 $17.66 +$0.05
Platinum $956.35 $960.05 +$3.70
Palladium $844.50 $847.40 +$2.90

Summary

All metals saw a slight rise on 6/5.

Gold on the Rise

Following disappointing data on US jobs and wages that was released last week, the price of gold has climbed to its highest level in six weeks. The less than inspiring economic recovery has prompted some industry professionals to believe that gold could quite possibly rise to a four-year high this year because of its safe haven appeal. The Federal Reserve is expected to raise interest rates during next week’s meeting, following previous increases in March and December. However, the projected increases for later this year may not come to fruition after the payrolls report missed expectations.

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