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Precious Metals Results For 2017

Here is a snapshot of how the four precious metals performed in 2017 provided by Liberty’s Outlook, a publication of Liberty Coin Service:

Gold:
December 31, 2016 $1,150.00
Low for the year
January 3, 2017 $1,160.50
High for the year
September 8, 2017 $1,346.00
December 29, 2017 $1,306.25
Net change for year +$156.25
 
Silver::
December 31, 2016 $15.88
Low for the year
July 7, 2017 $15.37
High for the year
April 14, 2017 $18.53
December 29, 2017 $17.06
Net change for year +$1.18
 
Platinum:
December 31, 2016 $901.00
Low for the year
December 12 & 13, 2017 $874.00
High for the year
February 27 2017 $1,039.00
December 29, 2017 $934.00
Net change for year +$33.00
 
Palladium:
December 31, 2016 $678.00
December 29, 2017 $1,074.00
Net change for year +$396.00

Even though all prices rose in 2017, gold and silver results were dwarfed by the returns of many US and world stock exchanges. Palladium, was an outlier in rising more than 50% for the year. A temporary supply shortage developed that may persist for another year or two. The bulk of the world’s palladium supplies come from Russia, which adds a potential political monkey wrench to that market.

A new financial development also impacted precious metals in 2017 – the rise of the cryptocurrency market. Bitcoin, the most widely traded cryptocurrency was trading for less than $1,000 at the end of 2016 but reached about $19,000 toward the end of 2017.

As cryptocurrency prices soared, so did the news coverage on them. All this attention sparked more investor and speculator interest, which further fanned higher prices.


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