Daily Market Review - Jan 8, 2018

Gold Price decreased to $1,321.20 (-0.20%) per ounce, Silver Price $17.23 (-0.11%), Platinum Price $978.40 (+0.13%), Palladium Price 1100.90 (+0.51%), Dow Jones index 25,262.70 (0.13% decrease).

In the new week ahead, investors will have a slow economic schedule for the first couple days, and some more important reports on Thursday and Friday.

Overall, the economic news shows the U.S. economy continues to grow and create jobs. At the end of the first trading week of 2018, the stock market was trading on a very strong note.

U.S. Dollar vs Precious metals

The US Dollar recovered on Monday after most of the losses last week. The higher USD index today is a bearish element for the precious metals market.

Gold and silver prices are modestly lower in early Monday trading, weighed down by the stronger dollar. Among other precious metals: platinum price is trading higher, palladium price also increased.

Stock Market Today

U.S. stocks on Monday opened lower S&P 500 2740.70 (-0.09%) and NASDAQ Index 7134.30 (-0.02%), Dow Jones Industrial Average 25262.70 (-0.13%).

Wall Street indexes are trading lower in early U.S. trading Monday. Wall Street outperformed in the previous week but fell for the first time this year as investors evaluate the prospects for corporate earnings and also expect the latest comments by leading Federal Reserve members this week.

The concerns surrounding geopolitical tensions will continue to add pressure to the market, as tensions between North Korea and the U.S. rumble on.

Economic data for this week: Consumer credit (Monday), Job openings (Tuesday), Import price index, Federal budget (Wednesday), Weekly  Jobless claims, Producer price index, Federal budget (Thursday), Consumer Price Index, Core CPI, Retail Sales, Business inventories (Friday).   

All market review articles are provided as a third party analysis and do not necessarily match views of Bullion Exchanges and should not be considered as financial advice in any way.

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