Daily Spot Price Update 8/2/2017

Metal Open Close Change
Gold $1267.37 $1263.89 $3.48
Silver $16.68 $16.60 $0.08
Platinum $947.50 $952.75 +$5.25
Palladium $895.73 $897.85 +$2.12

Summary

Gold and silver decreased slightly on 8/2, while platinum and palladium increased slightly.

US-China Trade

After meeting with the Chinese president in April, Trump agreed to go easier on China trade in exchange for China putting pressure on North Korea to back down on missile development. However, with tensions rising as North Korea continues to test missiles that could reach America, Trump appears to be changing his strategy. His administration is close to launching an investigation into potentially unfair Chinese trade practices, would could result in tariffs and other measures. This trade investigation is another effort to pressure China into cracking down on North Korea, though China says the missile concerns and trade should not be mixed up. This investigation could ramp up tension between the world’s two largest economies.

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