$GLD, $SLV, $USD
Gold extended its rally to a 3-month high last Friday, running toward its biggest 1-year rise in 7, as a softening USD, political tensions and dampened concerns over the impact of US interest rate hikes played into its rally.
Gold’s gains coincide with USD, in which Gold is priced, sliding toward its worst year since Y 2003, damaged by tensions over NKorea, and persistently low US inflation.
.DXY touched 3-month lows Friday, lifting Gold to its highest mark since late September at 1,307.60 oz before paring gains.
Strong charts, the weaker USD and expectations of Bullish fundamental factors ahead have bolstered Gold prices in year-end trade.
Spot Gold prices were up 0.67% at 1,303.37 per ounce by 2:05p EST (1905 GMT), poised to finish Y 2017 up 13%.
Benchmark US Gold futures settled up 12.1, or 0.93%, at 1,309.30 oz, finishing the year 12% higher.
Gold’s chart signals look positive after it broke above its 100-Day MA last week at 1,295 oz.
Among precious metals, Palladium posted the strongest rise this year, climbing 57% as concerns grew over availability after years of deficit.
Palladium eased 0.31% to 1,062.05 oz, marking its highest level since February 2001 at 1,072 in the prior session.
Silver was up 0.51% at 16.926, paring gains from its 1-month high of 17.111. Platinum was up 0.11% at 924 after touching a 4-week high of 936.20. This year, the 2 grey metals have risen by 6 and 3%. respectively.
Stay tuned in the New Year.