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Mid-Day Gold & Silver Market Report – 3/26/2014

GOLD BUOYED BY CHINESE DEMAND, POSSIBLE ECB STIMULUS

The Gold price fell this morning as a stronger U.S. dollar further pressured the yellow metal.  However, Gold remained above the technical level of $1,300 per ounce as robust demand from China and the prospect of a European Central Bank stimulus helped buoy Precious Metals from further experiencing further losses.  The recent price pullback has influenced sidelined investors to re-enter the Precious Metals market. “Those investors that had patience and didn’t chase prices in January and February have now got their buying opportunity,” Ken Ford, founding partner at Warwick Valley Financial Advisors, said. 

U.S. stocks are up again today as the S&P 500 remains on course for a fifth consecutive quarter of gains.  “There is a lot of tug of war, a lot of tensions back and forth,” Ed Crotty, chief investment officer at Davidson Investment Advisors in Seattle, said. “Valuation have kind of moved from what was severely depressed valuations to more or less normal valuations. Now it’s going to be about fundamentals.”  With economists at odds on the actual health of the U.S. economy, retail investors will continue to gauge Gold and equities markets for signs regarding their future trajectory. 

At 1:09 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,304.90, Down $8.50.
  • Silver, $19.83, Down $0.19.
  • Platinum, $1,408.80, Down $14.10.
  • Palladium, $780.30, Down $9.10.
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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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