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Morning Gold & Silver Market Report – 2/19/2014

INVESTORS CAUTIOUS AHEAD OF FED MINUTES

The Gold price is trading slightly lower as investors await the release of January’s Federal Reserve meeting minutes. MKS SA senior vice president Bernard Sin said, “The market is very cautious as it is awaiting the Fed minutes to be released later today and there is also lower demand out of China and Asia in general. Based on the technical environment though the rally may not be over, because the short-term trend is still bullish and we are building higher lows … at times, it looks overbought but any retracement looks healthy.”

Caution in the market has U.S. stock futures trading slightly lower as well. One analyst said, “Wall Street is currently eyeing a relatively flat start to the day’s trade, although the latest building permits and housing starts data both for January could have some impact here. There’s every chance that the extreme cold weather that gripped the U.S. last month will end up weighing here and this in turn could end up weighing on sentiment.”

At 9 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,322.20, Down $4.20.
  • Silver, $21.92, Down $0.04.
  • Platinum, $1,427.00, Up $0.50.
  • Palladium, $738.20, Up $0.10.

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Disclaimer:
APMEX’s ‘Market Reports’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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