Daily Spot Price Update 6/20/2017

Metal Open Close Change
Gold $1246.84 $1248.15 + $1.31
Silver $16.63 $16.59 $0.04
Platinum $931.10 $928.80 $2.30
Palladium $867.50 $877.48 +$9.98

Summary

Palladium saw an increase on 6/20, while other metals moved modestly.

Gold on the Decline

Last week, the Federal Reserve increased interest rates based on strengthening household spending and steady job growth. This rate hike caused gold and other metals to drop in value, as is what usually happens when the economy is doing well and the dollar is strong. This comes after gold has been high for much of the year due to geopolitical tensions and worldwide elections, along with uncertainty surrounding the current administration’s ability to get anything done.

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