Two Month Low On Gold For The Month of December
Gold took a small dip this week as it holds on to a two month low. However, there has been talk about the U.S. government potentially shutting down which if so, will lead to higher prices.
On Wednesday, gold’s spot price was was down a mere 0..1 percent, coming in at $1,264.57 per ounce. U.S. gold futures for February are coming in $1.20 more at $1,266.10 an ounce.
The current price of gold is not looking to go up much further before the end of the year.
Gold Prices See Two Month Low During Decemeber
The precious metal has been sensitive on the market. The current prices are lifting the opportunity cost for non-yielding bullion. At the same time, it’s giving the dollar the boost it needs.
With the possibility of the U.S. government shutting down, investors are looking for positive results on the gold end. However, if gold does go up, it won’t last long for the simple fact that no one expects the government to shut down really.
Silver has also not been doing so well lately. The precious metal fell 0.8 percent coming in at $15.97 per ounce. This comes after hitting the lowest it’s been, $15.88, since the middle of July.
It’s been 4-1/2 months since silver first fell below $16.00. However, as the industrial complex becomes lowers, it will come the selling of the precious metal. Silver will follow gold as things pan out in with the U.S. government.
Platinum, on the other hand, has gone up a bit at 1.7 percent, coming in at $900.05 per ounce. This past July, platinum was at it’s lowest, easing in at $895.
Palladium, however, is going up, at 1.2 percent, making it $994.40 per ounce. No one knows how things are going to pan out before the end of the year. Hopefully, these precious take no more dips as we enter 2018.