The gold contract closed lower on Friday (June 17) as the dollar strengthens making gold less attractive. This makes the gold contract more expensive and unattractive for holders of other currencies.
- The gold contract fell $9.3, or 0.5%, to close at $1,840.6 per ounce. The gold contract fell 1.9% for the week.
- The silver contract dropped 29.8 cents or 1.36%. to close at $21.587 per ounce.
- Platinum contract decreased by $20.9 or 2.2% to close at $930.2 per ounce.
- Palladium contract decreased by $67.80 or 3.6% to close at $1,798.70 per ounce.
The dollar index, which usually moves in the opposite direction to the gold price, rose to 104.6960 on Friday.
Global interest rate hikes are also impacting the price of gold. The Federal Reserve (Fed), the British central bank, and the Swiss central bank are raising interest rates this week
The U.S. Federal Reserve (Fed) reported Friday that industrial production rose 0.2% in May after increasing 1.4% in April, marking the fifth consecutive month of growth.
The Spot Market is Closed
Saturday, June 18, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 04.00 | 1,839.80 1,840.80 | -18.00 -0.97% | 1,833.70 1,857.80 |
| Silver 04.00 | 21.64 21.74 | -0.29 -1.34% | 21.53 22.03 |
| Platinum 04.00 | 931.00 941.00 | -19.00 -2.00% | 928.00 961.00 |
| Palladium 04.00 | 1,746.00 1,896.00 | -74.00 -4.07% | 1,742.00 2,000.00 |
| Rhodium 04.00 | 11,850.00 13,850.00 | -50.00 -0.42% | 11,850.00 13,900.00 |