Daily Market Review February 15, 2017

Gold went up to $ 1,229.90 (+3.40) per ounce today, Silver Price $ 17.98 (+0.01), Dow Jones index goes up to 20,528.47  (Today’s change 0.12%), USD Index and the Stock market today!

US Dollar vs Precious metals

The recent rising strength of the U.S. dollar has been widely publicized. Let's take companies with international operations. Foreign exchange swings can have a meaningful effect on their top and bottom lines in an annual business forecast. Regarding this US dollar changes, US producer prices rose recently by a seasonally-adjusted 6%, which defeated expectations by a good bit. Precious metals did not make a huge move: gold gained about two dollars over spot, silver finished exactly as it started on Tuesday,  Platinum and Palladium didn’t add much value.  

Stock Market Today

Federal Reserve Chair Janet Yellen was in Congress on Tuesday for the first day of her semiannual testimony on monetary policy. In her prepared speech to Congress,  she made it very clear that she has faith in US economy. Additionally, she believes it’s definitely continuing to grow. In her speech to the Senate Banking Committee, Yellen said the central bank can continue to raise interest rates slowly. Although, it would be "unwise" to wait too long. So, the market is waiting for the second day of Ms. Yellen testimony. This is because she is usually careful about keeping to the same message across both days of her speech. More news comes from Europe. Germany central bank has completed a transfer of gold bars worth $13 billion from New York to Frankfurt. Therefore this is part of a plan to repatriate roughly half the reserves it keeps abroad. Germany has been bringing gold home from New York and Paris since 2013. Additionally, about 642 tons has transferred. As always, there are many views of logistics. And, the mechanic's reasons when a country transfers its gold from foreign central banks. Some analytics call it "demonstration of confidence." While others suggest the urgency in repatriating Germany’s gold has more logic. At least for regarding the latest Trump’s announcements European policy to US Dollar.

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