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Morning Gold & Silver Market Report – 4/9/2014

METALS DOWN AS INVESTORS AWAIT FED MINUTES

Precious Metals are trading relatively flat through early morning trading.  As European stocks show signs of strength and the geopolitical situation in Ukraine begins to heat back up, many investors will look ahead to this afternoon’s release of minutes of the U.S. Federal Reserve’s last policy meeting.  Publicly, federal officials have continued to encourage the mindset that the first real interest-rate hike won’t happen until the second half of 2015.  However, during a panel discussion Tuesday at the International Monetary Fund, Federal Reserve Bank of Chicago President Charles Evans said there is a possibility that policy makers could “withdraw ... accommodative policies prematurely.” 

Emerging markets are beginning to gain headwind and edging European and Asian stocks higher.  Stocks in Asia neared a six month high Wednesday, which helped developing markets and the European market experience modest gains.  Analysts at Morgan Stanley wrote in a note to clients, “The divergence (in performance) between developed market and emerging market assets and currencies has continued.  A rotation from growth to value assets is being broadly cited as putting major [developed market] equity markets under pressure.”

At 9:22 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,305.40, Down $5.80.
  • Silver, $19.78, Down $0.33.
  • Platinum, $1,438.10, Down $3.60.
  • Palladium, $776.70, Down $0.20.

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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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