Account Access
Live Metal Prices

Gold Market Overview: May 30, 2017

European leaders are re-evaluating their national defense strategies in the wake of Donald Trump's visit to Europe and other geopolitical concerns. Many fear that with the United Kingdom leaving the European Union and American leaders calling for NATO nations to "pull their weight," monetarily, the stability of continental Europe may be in question.

In China, the massive debt bubble looks one step closer to popping with Moodys, a credit rating agency, downgrading the nation's bonds to A1 - its 5th category. This represents China's first downgrade since 1989. This headwind against Chinese bonds may help drive risk-adverse investors into precious metals. The performance of precious metals has been mixed for the last month of May, but palladium looks likely to continue outperforming its peers due to strong industrial demand.

Gold prices settle at $1,268 per ounce while silver is at $17.42, outperforming gold over the last five days. Platinum and palladium trade for $960 and $793, respectively. Palladium continues to enjoy strong demand in industry along with tight supply. Platinum remains in a state of oversupply, and this is suppressing prices of the metal.