Daily Market Review - July 5

Market Review: Gold Price increased to $1,225.20 (+0.03%) per ounce, Silver Price $16.07 (+0.18%), Platinum Price $914.00 (+0.33%), Palladium Price $842.75 (-0.15%), Dow Jones index 21,403.07 (0.35% decrease)

U.S. Dollar vs Precious metals

After pulling back last week, the US Dollar Index is on a stable note this week. The US dollar slightly fell on Thursday after a round of weaker-than-expected market data, giving space for raising interest rates by the Federal Reserve.

The greenback was already on the slipping way after Wednesday's issue of the Fed's policy minutes failed to provide a clear picture of future interest rate increases.

Gold price is pretty steady on Thursday, as Federal Reserve at least released a few comments how about future interest rates and how inflation might affect the rate hikes.

Investors are concerned that higher interest rates tend to boost the dollar and weigh down the gold price.

Among other precious metals: silver is slightly increased, platinum price is up, and palladium price is still lower this week. In general, it seems that all the main metals are having trouble moving higher, and geopolitical tensions with North Korea just add issues to this situation.

Stock Market Today

U.S. stocks on Thursday opened lower S&P 500 2422.28 (-0.42%) and NASDAQ Index 6123.25 (-0.45%), Dow Jones Industrial Average 21403.07(-0.35%).

Wall Street Indexes are trading lower today because of the combination of geopolitical tension and some signs that global central banks are running closer to the idea that rising bond yields are hurting investor sentiment. Investors are also becoming risk-averse due to rising concerns about the North Korea’s test launch this week.

Meanwhile, President Donald Trump took time during his speech in Poland, on Thursday to comment on the economic situation in the US and the recent situation for the stock market.

Economic data for today: Weekly Bill Settlement, Chain Store Sales, Jobless Claims, Fed balance sheet, Money Supply.