Gold Spot Prices and Precious Metals Market

Gold Prices increased to $1,284.00 (+0.07%) per ounce, Silver Price $17.94 (-0.88%), Platinum Price $984.20 (+0.11%), Palladium Price $801.70 (+0.11%), Dow Jones index 20 586.17 (0.17% increase).

U.S. Dollar vs Precious metals

Yesterday saw positive movement in the precious metals thanks in large part to a softer dollar. The USD was slightly weaker, trending under 100.0 on the DXY index. Gold prices end at a 1-week low as the dollar recovers from a 3-week low. Investors expect gold prices to trade higher today as uncertainty looms ahead of the outcome of the French elections next week. Gold struggled to hold this week's gains as the dollar strengthened and concerns over global risk eased. However, selling was relatively muted, which suggests a period of consolidation is now upon us.

Stock Market Today

U.S. stocks on Friday opened little changed S&P 500 2353.33 (-0.11%) and NASDAQ Index 5912.55 (-0.07%), Dow Jones Industrial Average 20586.17 (-0.06%). After a two-week losing streak, major indexes may cling on to their gains this week. This is following Thursday's rally. Partly driven of course by Treasury Secretary Steven Mnuchin's comments. He stated that an overhaul of the tax code would be unveiled very soon. Also, corporate earnings and economic reports were positive on Thursday. This is as more companies released quarterly results, and it helped US stocks to gain. Investors are focused on the outcome of the first round of the French presidential election on Sunday. Aside from political uncertainty in Europe causing global investors concern, the news that tax reform may be on the table “soon” has also grabbed the attention of the markets.

Other articles: Gold prices hit all-time highs during the Currency War, Gold Miners vs. Price of Gold – Reason for Caution?, The Year of the Pig - Royal Mint.