Here we are, at the first day of trading in 2017 and it is beginning with a bang. As of 3 o’clock EST, we have US equities, the US dollar and the precious metals markets all trading higher.

Dow restarts climb to 20,000 & US Dollar Surges to Higher Ground

It’s hard to believe, but the final trading day of 2016 is upon us. 2016 has been chock-full of twists and turns, with a finale that even the best fiction writers could have never imagined.  

Brexit and Trump

Gold finished solidly higher today, gaining  $18 on the day, with Comex Futures closing at $1159 (as of 4:30 PM EST). According to Kitco News, this year-end rally is a combination of short covering and bargain hunting. The weak US dollar is also contributing to the gains.

Trading and volume have thinned as investors and traders are squaring and closing positions for this year, getting ready to celebrate a new year. As this current calendar year winds down, trading volume and liquidity continue to contract. Each trading session takes us closer to the conclusion of 2016.

US Dollar Surges in Value

As this holiday week begins, we find that both safe haven and risk-on assets are in play. As of 3 o’clock EST, we have both the precious metals complex and US equities posting substantial gains on the day.

US Equities Post Solid Gains, NASDAQ on Pace for New Record High.

Today marks the final day before traders and investors call it a wrap and begin their holiday season celebration. The overwhelming characteristics that defined today’s trading activity were quiet and subdued.

In extremely light preholiday trading, both gold and equities traded modestly lower. All the while, the US dollar continued to show strength and gain value. As of 3 o’clock EST, the Dow Jones is lower by 22 points (.11 %) at 19,920. Spot gold is currently trading at $1,129.25, a net loss of about $2.00 (-.19%) per ounce.

Three Equals Two X Two

Gold prices ended today’s trading session fractionally lower in an extremely quiet and slow manner. Bearish sentiment continues to dominate price action.

Gold prices have declined for the last seven weeks, with consecutive lower lows for six of those seven weeks. Since the presidential election was held on November 8, gold has lost approximately $200 value.

The brass ring is certainly within reach as the Dow inches closer to 20,000. US equities continue to gain tremendous value, today coming within 13 points of that elusive number on an intraday basis.

With the Christmas holiday, just days away, and New Year’s just around the corner, I am amazed at how quickly this year has passed. I am even more amazed at the events that have unfolded over this last year. 2016 is turning out to be not only a transitional year, but also a transformative year.