Daily Market Review February 08, 2017

Gold goes up at $ 1,242.10 (+6.00) per ounce today, Silver Price $ 17.90 (+0.06), Dow Jones index drops down to 20,025.01  (Today’s change 0.32%), Stock market today!

U.S. Dollar updates

The US dollar keeps benefiting from arising political uncertainty ahead of a number of crucial new Administration’s decisions. The dollar gains accelerated after China reported its foreign exchange reserves. They unexpectedly fell below the $3 trillion level in January for the first time in nearly six years. So, until then we have answers to some of the big (policy) questions the experts are fearful of. Moreover, what the administration prepares to keep a lid on the dollar. This week President Trump has a meeting with Japanese Prime Minister Shinzo Abe. A lot of investors worry, that with Trump pro-Japanese approach and anti-China stance this meeting could bring more issues to US dollar and other currencies. This is obvious, that a strong dollar means we have greater buying power. In other words, US currency is worthy outside of the country, based on the same logic, imports also become cheaper, can be good for any economy. Meanwhile, the experts point out that these geopolitical happenings alone and rising dollar don’t provide safe demand for precious metals afloat and gold price particularly.

Stock Market Today

This week is pretty quiet for market updates. The main changes: The S&P energy sector led decliners, capping gains in the overall stock market, the oil prices have fallen, the Dow and Nasdaq hit record highs. There is no major economic data due Wednesday, shifting investors' focus, the market is waiting for the next big catalyst.  

Other articles: Gold Price & Gold Update, Darth Vader Silver Coin, Gold Futures and Bitcoin Grow from Coronavirus Concerns!