Gold futures closed higher on Wednesday (Jan. 5) as a sharp drop in U.S. stocks encouraged safe-haven buying. This was supported by the depreciation of the dollar.
- Gold futures were up $10.5, or 0.58%, at $1,825.1 per ounce.
- Silver futures were up 11.4 cents, or 0.49%, at $23.17 an ounce.
- The platinum contract rose $30.7, or 3.16 percent, at $1,001.9 per ounce.
- The palladium contract was up $42.90, or 2.3%, to close at $1,902.60 an ounce.
Gold futures received support as the dollar index against the six major currencies in a basket of currencies fell 0.10% overnight to 96.1674.
In addition, investors are buying gold as a safe haven after the U.S. stock market slumped. The release of weak U.S. economic data by IHS Markit also indicates that the purchasing managers index for the service sector in the U.S. fell to 57.6 in December from 58.0 in November, with the PMI affected by a shortage of workers in the service sector. This led to a slowdown in employment.
The Spot Market is Open
Thursday, January 6, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 09.30 | 1,808.20 1,809.20 | -2.30% -0.13% | 1,806.80 1,812.60 |
| Silver 09.30 | 22.67 22.77 | -0.10 -0.46% | 22.66 22.91 |
| Platinum 09.30 | 978.00 988.00 | -4.00 0.41% | 977.00 996.00 |
| Palladium 09.20 | 1,807.00 1,957.00 | -3.00 -0.17% | 1,801.00 1,964.00 |
| Rhodium 07.30 | 15,300.00 17,300.00 | +300.00 2.00% | 15,000.00 17,300.00 |