US Dollar and Gold Price

Gold price today $1,240.00 (+8.30) per ounce today, Silver Price $18.06 (+0.12), Dow Jones index hits up to 20,611.86 (Today’s change 0.52%), Stock market today! Let's examine the US Dollar and Gold Price

US Dollar vs Precious metals

The US Dollar rose strongly on the back of good inflation and retail sales data from the United States in mid-week trade. This week market watchers were expecting new comments from Greece economists. Greece is considering to leave the EURO in favor to US dollar. And, Greek economists are analyzing benefits into taking on the USD banknotes. Especially if the country turns its back on the European single currency. So what does this have to do with the US Dollar and gold price? Experts consider this news are leading to the logical reasons why Germany central bank has completed a transfer of gold bars recently worth $13 billion from New York to Frankfurt. The current US dollar situation did not do precious metals any favors whatsoever.

Stock Market Today

Markets climb to New Highs following Trump’s meeting with a group of executives from big name retailers such a Target and Best Buy on Wednesday morning. Major retailers have come out swinging against a provision of the tax proposal known as border adjustment, which effectively creates a new tax on imports. In the opening speech, Trump told that “his administration stays very focused on the issues that will encourage economic growth”. The Dow Jones Industrial Average rose 0.52% to end at 20,611.86, while the Nasdaq Composite tacked on 0.64% to close at 5,819.44. Financial stocks, which benefit from higher rates, rose 0.74 percent. The utilities and real estate sectors, both of which do worse in high-rate environments, fell 0.39 percent and 0.30 percent respectively.

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