Our Daily
Market Reports

Closing Gold & Silver Market Report – 3/20/2014

PRECIOUS METALS PRICES CONTINUE TO FALL; MORE SANCTIONS FOR RUSSIA

Precious Metals continue to lose steam and are trading lower through afternoon trading.  As investors continue to monitor the geopolitical situation in the Ukraine, Gold prices have decreased based on the perception that the situation will escalate.  Saxo Bank's head of commodities research, Ole Hansen, said, “The risk related to Ukraine has not gone away, but moved to the sidelines for the time being.”

U.S. stocks are trading slightly higher as recent comments made by Federal Chairwoman Janet Yellen have provided the U.S. dollar with a boost, while also pressuring Metals. Camilla Sutton, chief foreign exchange strategist at Scotiabank, said, “It is hard to ignore that Chair Yellen did not sound like the dove we expected and, in fact, sounded relatively optimistic about the timing of interest rate hikes. This is (US dollar) positive and supports our bearish euro and yen call.”

At 5:10 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,330.20, Down $13.10.
  • Silver, $20.33, Down $0.54.
  • Platinum, $1,434.40, Down $19.30.
  • Palladium, $770.00, Up $1.80.
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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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