One-Year High for Gold Price - Gainesville Coins News
No Minimum order! We accept Pay with Credit Card
Call Us: (813) 482-9300 Mon-Fri 9:00AM-6:00PM EST
Login or Register
Log into your account
About Gainesville Coins ®
Billions Of Dollars Bought And Sold A+ BBB Rating 10+ Years No Hidden Fees Or Commissions All Inventory Ships Directly From Our Vault

One-Year High for Gold Price

blog | Published On by
One-Year High for Gold Price

gold bars and gold coins

The gold price slipped from its highs above $1,350/oz in overnight trading, but is still above $1,346/oz on Friday morning. After another robust rally on Thursday, spot gold remains at a one-year high. Spot silver traded north of $18 per ounce as the precious metals charted their third consecutive week of gains.

Platinum was trading above $1,013/oz this morning, while palladium fell by about $15 per ounce to $935/oz.

Here's a look at Thursday's closing numbers:

Gold: $1,348.60/oz (+$15.10, +1.13%) Silver: $18.09/oz (+25¢, +1.37%) Platinum: $1,016/oz (+$13, +1.30%) Palladium: $951/oz (+$20, +2.15%)

DJIA: 21,784.78 (-22.86, -0.10%) S&P 500: 2,465.10 (-0.44, -0.02%) Nasdaq: 6,397.87 (+4.55, +0.07%) DXY: 91.51 (-0.68, -0.74%) WTI crude: $49.12/bbl (-4¢, -0.08%)

Stocks overseas were mixed on Friday, yet safe-haven demand has remained strong overall. The 10-year Treasury yield briefly threatened to sink below 2.00% but settled near 2.05% when markets opened.

Meanwhile, the dollar slid another 0.5% on the DXY index this morning, registering at just 91.2. This is the weakest the USD has been in more than two years, since early 2015. This helped all of the dollar's major competitor currencies pick up ground: the euro is solidly above $1.20, the yen is approaching ¥107 per dollar (its highest since mid-November), and the pound sterling is trading at $1.32, nearly matching its highest in a year.

hacker-1500899_640

The big story concerning investors on Friday was a major security breach at one of the country's largest credit-rating agencies. Equifax, a company that provides credit scores (and therefore maintains a large database of personal information about its clients) was reportedly infiltrated by hackers who accessed the confidential information—namely, social security numbers and other identifying data—of over 140 million consumers. (That's more than half of the country's adult population.) In addition to the all-important SS numbers, hackers stole all sorts of sensitive information about Equifax clients, such as driver's license numbers, (in some cases) credit card numbers, and other bits of data used to confirm someone's identity.

While it's unclear exactly how the security breach occurred, what's more concerning is that the firm waited more than a month to reveal the issue to the public. Equifax learned of the breach in late July. The company is now facing a lawsuit worth billions of dollars in damages.

While markets will continue actively trading today, many of the 20 million residents of Florida are busy bracing for this weekend's arrival of Hurricane Irma. Much of the Miami area, and the greater Miami-Dade County, has been ordered to evacuate until the storm has passed. Interstate travel heading north out of the state has been log-jammed for most of the week, and virtually every municipality in the state is preparing for a potential crisis. The hurricane is expected to tear across Florida and then head up the U.S. East Coast. Georgia, South Carolina, and North Carolina have all already declared a state of emergency in anticipation of the storm.

The extreme weather is disrupting lives and commerce elsewhere, as well: Mexico was devastated by a massive magnitude 8 earthquake that has already taken the lives of dozens of people. Scientists believe the tremor could cause a tsunami in the gulf.

 

The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.

This site uses cookies for analytics and to deliver personalized content. By continuing to browse our site, you agree that you have read and understand our Privacy Policy.