Daily Spot Price Update 8/3/2017

Metal Open Close Change
Gold $1263.75 $1269.70 + $5.95
Silver $16.59 $16.73 +$0.14
Platinum $952.25 $968.20 +$15.95
Palladium $898.08 $889.65 $8.43

Summary

Palladium dipped in value on 8/3, while all other metals increased.

A Weak Dollar

While Wall Street celebrates a Dow victory this week, the US dollar dropped to a 15-month low against rival currencies. This is a stark contrast to the beginning of the year, when Trump’s promises of tax cuts and infrastructure spending sent the dollar to a 14-year high. However, recent political flops have resulted in investors losing confidence that this administration can reinvigorate the sluggish US economy. The dollar has now entered its first five-month losing streak since 2011.

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