Gold Prices Remain Firm Despite Strengthening of US Dollar

Gold remains stable, while silver prices decline. Gold traded calmly in the seven-dollar range, and closed at $1294.00. Prices for silver decreased by 20 cents, and closed at $17.8500. In general, the price action of silver looks more vulnerable to further growth in the US dollar than gold.

Gold remained stable, despite the strengthening of the US dollar. The dollar rose yesterday on strong economic data from the US, while the latest launch of the North Korean missile had virtually no impact on the currency markets, although investors focused on how the US will react to the test. The US currency is also supported by the fact that the US Senate has made progress in the draft law on tax reform.