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Market Overview - May 17, 2017

Precious metals prices are beginning to recover after losing steam from Le Pen's defeat in France along with rising expectations for a U.S rate hike in June. Gold has risen near its two-week high because of geopolitical concerns over the behavior of North Korea, mixed economic data from the U.S, and a pledge from the Chinese authorities to boost infrastructure spending.

Silver and platinum, especially, benefit from Chinese infrastructure spending. This is because of the use of these metals in solar panels and catalytic converters. The Chinese government is making heavy investments in solar energy and tightening vehicle emissions standards as part of its push to clean up the environment.

Gold as Measured by (GLD)



Silver as Measured by (SLV)



Platinum as Measured by (PPLT)



Palladium as Measured by (PALL)



Conclusion

Unlike platinum, palladium hasn't benefitted from the remarks coming out of China, but it still remains a much stronger investment. This is because there is a still a surplus of physical platinum while physical palladium supply remains at a deficit. Gold also looks likely to hold up better than silver based on safe-haven demand from the geopolitical and economic uncertainty around the globe.

The gold spot price is $1,232.90 while silver rests at $16.59. Platinum and palladium trade for $933.10 and $817.40, respectively.