Market Review: Gold Price decreased to $1,287.20 (-0.35%) per ounce, Silver Price $16.73 (-0.11%), Platinum Price $953.40 (-0.40%), Palladium Price 1020.10 (-0.65%), Dow Jones index 23,931.27 (0.40% increase).

U.S. Dollar vs Precious metals

The US Dollar slightly recovered today against a basket of other major currencies as traders braced for the resumption of deliberations on the U.S. tax plan. Gold price decreased today, as a reaction to news North Korea launched another ballistic missile on Tuesday night. Among other precious metals: all the major precious metals are trading lower today.

Stock Market Today

U.S. stocks on Wednesday opened mixed S&P 500 2628.23 (+0.06%) and NASDAQ Index 6848.64 (-0.91%), Dow Jones Industrial Average 23931.27 (+0.40%).

Wall Street indexes are trading mostly higher today, as traders are awaiting the results of a U.S. tax-cut plan being pushed through Congress. The Senate is likely to vote on the tax legislation later this week, even its still not clear that this bill will pass the Senate.

Federal Reserve Chair Janet Yellen speaks to Congress today on the U.S. economic outlook.

On the international stage: North Korea claims to have successfully tested a new ballistic missile on Tuesday night, which reached the highest altitude ever recorded by a North Korean missile.

Bitcoin hits a new record today $11,280, just the day after tipping the monumental $10,000 milestone. The main question for the market now is “Would it be the perfect time to convert bitcoins to gold or silver and rebalance your portfolio after this massive run?”

Economic data for today: Pending  Home  Sales, GDP, Janet Yellen testimony.

 

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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