Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold dipped less than 0.1% to close just under $1,331 after the Senate voted to reopen the government, boosting risk appetite and diminishing demand for safe havens.

After three days, the Senate ended the government shutdown by advancing a temporary spending bill that provides funding through February 8. It also grants temporary protection from deportation for the so-dreamers, young undocumented immigrants previously covered by DACA.

The deal must be approved by a full vote in the Senate and House, and signed by President Trump, before taking effect. And big differences between the parties over immigration and funding must still be resolved before a new budget is passed.

Wall Street rallied to record highs on the news, with the Nasdaq jumping 1% while the Dow and S&P 500 added 0.6% and 0.8%, respectively. The Global Dow added 0.6%.

The dollar also finished lower, slipping to a loss of 0.1% after rising to modest gains before the Senate agreement.

The IMF warned today that financial markets are at risk of correction if US inflation rises faster than expected.

The other precious metals were also lower, with silver slipping 0.3% while platinum and palladium dropped 2.3% and 0.6%, respectively.

At the Comex close: February gold dipped $1.20 to $1,331.90; March silver slipped 5 cents to $16.99; April platinum lost $23.30 to $996.80; and March palladium slid $6.10 to $1,092.30 an ounce.