Daily Market Review - Nov 20, 2017

Gold Price decreased to $1,287.90 (-0.10%) per ounce, Silver Price $17.07 (-0.07%), Platinum Price $940.10 (-0.23%), Palladium Price $985.80 (-0.08%), Dow Jones index 23,413.67 (0.24% increase).  

Here is a new shortened holiday week ahead, stocks traditionally do well in Thanksgiving week, and have a good chance of trading higher this week. Traders will be watching tax reform news and a few economic releases.

U.S. Dollar vs Precious metals

After falling for two trading weeks, the US Dollar Index opened on a stronger note on Monday. The market sentiment on the US Dollar Index was weak at the beginning of last week, but then improved after the House of Representatives passed the tax cut plan at the end of last week.

Gold price was trading lower in morning trade on Monday with decreasing demand from jewelers, retailers, and investors.

Among other precious metals: silver price slightly decreased, platinum and palladium prices are also trading lower.

Stock Market Today

U.S. stocks on Monday opened higher S&P 500 2580.33 (+0.06%) and NASDAQ Index 6792.26 (+0.14%), Dow Jones Industrial Average 23413.67 (+0.24%).

Wall Street Indexes are trading lower on Monday, as no major financial releases are set to be published this week.

No major U.S. earnings or economic data scheduled this week, and analytics expect the market will be steady to Thursday's Thanksgiving holiday and an early close on Friday.

With 227 Republican votes, the House passed the most sweeping tax overhaul in three decades last week, taking a significant move forward for businesses and individuals and deliver the first major legislative achievement of President Trump’s Administration.

Bitcoin price hits its new highest level, even just a week ago, the bitcoin exchange rate was near $5,500, today the price is rising with fresh record highs around $8,000.

Economic data for this week: Monday: Leading economic indicators, Tuesday: Existing Home Sales, Wednesday: Weekly jobless claims, Durable goods orders, Consumer sentiment, FOMC minutes. Thursday: Thanksgiving Day. Friday: Markit Services PMI.  

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.

Other articles: US Federal Reserve Policy Meeting, New Perth Mint Dragon and Phoenix Figure Eight Antiqued Coin, Gold Price Update.