MTECHTIPS;-Gold / Silver / Copper Prices – Weekly Outlook:

MTECHTIPS;-Gold / Silver / Copper Prices – Weekly Outlook: January 22 – 26

MTECHTIPS-Gold prices rose on Friday as the dollar hovered near three year lows amid fears over the prospect of a U.S. government shutdown, but the precious metal still ended the week slightly lower. Gold futures for February delivery settled up 0.29% at $1,331.10 on the Comex division of the New York Mercantile Exchange. For the week, the precious metal dipped 0.13%, snapping five weeks of gains after falling from Monday’s four-month highs of $1,344.90. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged up 0.2% to 90.49 late Friday. It touched a low of 89.96 earlier, the weakest level since December 2014. For the week, the index was down 0.4% and it has declined 1.46% so far in 2017. The dollar has been pressured lower by the view that the global economic recovery will outpace U.S. growth and prompt other major central banks, including the European Central Bank to begin unwinding loose monetary policy at a faster pace. A dollar-denominated commodity, gold becomes cheaper for overseas buyers when the U.S. currency weakens. Elsewhere in precious metals trading, silver was up 0.42% at $17.02 a troy ounce late Friday, while palladium rose 0.5% to $1,098.80. Platinum was up 0.94% at $1,016.7, after rising as high as $1,020.7 earlier, the most since September. Platinum ended the week 1.8% higher, a sixth consecutive weekly gain. Among base metals, copper ended Friday down 0.59% at $3.180 a pound. The industrial metal has declined since hitting almost four year highs in late December, but some analysts expect demand from China, the world’s top consumer, to support prices

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips