Gold saw a 13.03% increase in 2017
The Gold price started 2017 at $1,150 per ounce and is closing 2017 at $1,303, a 13.03% increase. The largest annual percentage increase since 2010, as the U.S. Dollar continues to decline. The dollar is sliding towards its worst year since 2003, damaged by tensions over North Korea, the Russian scandal surrounding U.S. President Donald Trump’s election campaign, and persistently low U.S. inflation.
The good news is many of the professional commodity traders want to end the year with a Gold position. If Gold can hold above $1,300 the first week of 2018, Gold owners should have a great 2018.
At 11am PST today, Gold is trading at $1,306 per ounce, up $12 on average volume.
Silver broke above the $17 per ounce resistance level today. Silver hasn’t performed as well as Gold in 2017, but 2018 could be an exciting year if Silver can stay above $17 for the first week of 2018. At 11am PST today, Silver is up $0.18 per ounce, trading at $17.03 on light volume.