Gold and silver are conceding some value as of the writing of this post early Wednesday morning, but have not fared too poorly through the first three days of this week. With today being New Year’s Eve and tomorrow being the new Year holiday, this week is shortened and because of that has been particularly quiet.
With most investors simply holding their positions and awaiting the slew of economic data that 2015 will bring. As a result of this, the marketplace has been devoid of much investing activity and investors are instead choosing to spend time with their families and preparing for this evening’s festivities.
US Dollar, US Stocks Improve During Quiet Week
Through the first two days of this week and for much of Wednesday, US stocks as well as the USD have both been adding a lot of value. This news is obviously not good for metals and is a major part of the reason losses are beginning to pile up on this final day of 2014.
As we head into next year, the primary focus for almost every investor will inevitably be the progress of the US economy. 2014 saw the US economic system grow considerably, but with other economies lagging and certain aspects of the United States’ economy sub-par in nature, the US’ progress has been undermined a bit.
With the future of interest rates in the US a major concern for almost every investor, you can bet that the status of the US economy will be a top concern going forward. Speaking of the US economy, today brought about a weekly jobless claims report that saw almost 300,000 jobless claims filed last week. This is an unusually high number of claims for employment benefits, but with this statistic being one of the United States’ better in recent history, investors were not too worried.
As we look ahead to the rest of the week, it is highly likely that investors will remain away from markets. Friday will be a normal day of trading, but with it being the day after New Years I anticipate that it will be just as quiet as the rest of this week has been.