Daily Spot Price Update 8/28/2017

Metal Open Close Change
Gold $1295.86 $1318.75 + $22.89
Silver $17.17 $17.51 +$0.34
Platinum $983.50 $994.35 +$10.85
Palladium $934.00 $941.78 +$7.78

Summary

All metals saw a substantial increase on 8/24.

Gasoline Prices Rising After Hurricane Harvey

The historic flooding in the Houston and Corpus Christi areas caused by Hurricane Harvey this weekend have resulted in at least 10 oil refineries being knocked offline. This is expected to affect America’s gasoline supply, and therefore, prices at the pump. Gasoline futures spiked by seven percent on Sunday night, and another three percent on Monday. Retail gas prices are expected to increase about 15 cents per gallon. The storm interrupted about 16 percent of the country’s refining capacity, but ample stockpiles of gas will help compensate for the temporary loss of Gulf Coast refineries.

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