Gold Prices Rise with a Possible Government Shutdown
Wayne Lin
1/19/2018 4:00:04 PM
Daily Gold & Silver Market Report – 01/19/2018
While Gold rose half a percent Friday, the U.S. dollar neared a three-year low. The political talk this week has been dominated by a potential government shutdown, which has caused tremendous worry among investors. Also on the horizon are interest rate hikes that have investors turning a cautious eye toward the markets. According to Reuters, “The [Federal Reserve] should raise interest rates three to four times in both 2018 and 2019, Cleveland Fed President Loretta Mester said on Thursday, a pace that is a big faster than many of her fellow policymakers prefer.” Even though Gold is holding strong and staying high, we could see significant drops of prices if a government shutdown happens.
Palladium Rallies but for How Long
“The metal (Palladium) is used in vehicle autocatalysts, and its rise has been fueled primarily by robust car sales and tightening emissions regulations across a number of key markets.” (Investing News) While there has been an influx of car sales, pushing demand for Palladium, investors wonder how long this rally will last. For now, the metal continues to soar and investors are enjoying its value. What could potentially bring down the demand is car makers switching to Platinum, which is cheaper than Palladium and more easily accessible. The production and sales of electric vehicles are also a threat to Palladium values, but only time will tell if the number of electric vehicles will surpass that of gas-powered vehicles in the near future.
At 3:58 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,333.50 Up $3.90
- Silver, $17.11 Up $0.08
- Platinum, $1,015.70 Up $9.50
- Palladium, $1,106.8 Up $5.50
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APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies
