Weekly Market Report for Precious Metals February 14-20

precious metals stock market image

This Weekly Market Report for Precious Metals saw increases across the board for gold, silver, platinum and palladium.
Although the dollar is still strong, analysts see a new situation arising in which precious metals prices and a strong dollar complement each other. At the same time, Trump has indicated that he would like to see a somewhat weaker dollar to enhance trading, particularly for U.S. exports.


A rate hike is expected from the Fed in the coming months, which might affect the prices of precious metals. However, since interest rates are still historically low, the effect may be minimal. Expectations are rising for the rate hike, as some predict it will happen in March or as late as June.
In an era of global uncertainty such as the present one where instability in Japan and Europe are is increasing, gold still maintains its position as the world’s safe-haven investment. Some investors are taking profits during this time of increasing prices, but the long game may be even more promising.

Gold

Gold started on the 14th at $1,229.50. On the 15th, it dropped to $1,219.50 before climbing to $1,240.50 on the 16th. On the 17th, the spot price of gold started at $1,238.10, rose to $1,242.30, and closed for the weekend at $1,234.50. On the 20th, gold rebounded to $1,237.90.

Silver

The spot price of silver on the 14th was $17.56. On the 15th, the price rose to $17.88. On the 16th, the price broke the $18 mark, rising to $18.06. When the weekend began, silver was at $17.94. On the 20th, the spot price was back up to $18.03 before ending the day at $18.00, making for a total gain of $0.44.

Platinum

Platinum began the week at $999 on the 14th. The 15th saw slight decreases, to $997 and then to $994, but an upward trend on the 16th brought the price to $1,009 and then to $1,015. The price remained over $1,000 on the 17th, closing for the weekend at $1,001. Trading on the 20th saw platinum regain to $1,005.

Palladium

Palladium was at $776 on the 14th, but by the 15th, it had reached $789. The price climbed to $790 on the 16th. On the 17th, the price fell to 786, and the back to $776 for the weekend. On the 20th, the price was at $779, a weekly gain of $3.

Want to learn more about how to take advantage of the precious metals market? Contact a GMRgold representative at (877) 795-9585 today or browse our products on GMRgold.com.