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Morning Gold & Silver Market Report – 3/25/2014

GOLD UP AHEAD OF DATA; ECB ECONOMIES STRUGGLE

Precious Metals are trading relatively flat through early morning trading as investors look forward to economic data being released on Tuesday.  When asked his opinion on Gold’s recent shortcomings, Eugen Weinberg, head of commodity research at Commerzbank said, “due no doubt to further profit-taking after net long positions in Gold were increased for the sixth week running in the week to March 18. At 121,100 contracts, they are currently at their highest level since the end of November 2012.”

Euro zone bond yields decreased on Tuesday reversing course from last week’s rise.  Weak economic data showed the zones major economies performed below expectations and talk of ECB monetary easing, overshadowed investors worry about the U.S. Federal Reserve policy turnaround.  Elwin de Groot, rate strategist at Rabobank in Utrecht, said, “We've had signs that the global economy may be facing some headwinds.  A scenario in which the Fed starts easing earlier than expected as Yellen said, but does that at a slower pace would make sense if you look at the current moves in yields.”

At 9:57 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,317.10, Up $3.90.
  • Silver, $20.16, Up $0.06.
  • Platinum, $1,433.50, Up $0.30.
  • Palladium, $787.30, Down $7.40.

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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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