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

GOLD DEADLOCKED ON YELLEN COMMENTS AND UKRAINE RISK

The Gold price remains relatively flat today as escalating tension in Ukraine helped stall the dip the yellow metal has experienced since the latest Federal Open Market Committee Meeting.  “There is some safe-haven buying because of Russia,” Tom Power, a senior commodity broker at R.J. O’Brien & Associates, said. “We could also see some increase in physical demand after the big price drop.”  Precious Metals investors are currently at an impasse regarding the current trajectory of Gold and Silver.  Though safe-haven demand for Gold is currently being spurred by geopolitical concerns, pro-dollar comments from Fed Chairwoman Janet Yellen regarding monetary stimulus and higher interest rates are weighing on metals. 

U.S. stocks have risen today as reports show that consumer confidence has reached its highest level in six years.  “Things don’t look spectacular here, but they look OK,” Curtis Holden, a senior investment officer at Tanglewood Wealth Management, said. “The U.S. economy seemed to have cooled off from the pace it’s on toward the end of last year. There may be a little relief recently that things may be stable here.”  As the Federal Reserve continues to scale back its level of monthly stimulus injections, U.S. equities are beginning to rely more and more on traditional market motivators and less on the asset purchase program.

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

  • Gold, $1,313.50, Up $0.30.
  • Silver, $20.03, Down $0.08.
  • Platinum, $1,423.50, Down $9.70.
  • Palladium, $789.50, Down $4.90.

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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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