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Market Reports

Morning Gold & Silver Market Report – 6/2/2014

MARKET WAITS FOR FRIDAY’S JOBS DATA

The Gold price is relatively flat in early-morning trading, while stock futures are modestly higher. The first week of a new month brings with it speculation of the monthly jobs report, to be released Friday. Economists predict that 200,000 nonfarm payrolls were added last month, which would be the fourth-straight 200,000-plus gain. Regarding the Federal Reserve’s ultra-loose monetary policy, Chicago Fed President Charles Evans said, “Everybody is more comfortable and understanding the current economic conditions are such that (it is) appropriate for monetary policy to remain highly accommodative well into 2015 and you know it could even be 2016.”

The European Central Bank is meeting this week and is expected to announce more loosening of monetary policy in the eurozone. While dovish policies globally are a good sign for the Gold price, the euro falling in value would make the U.S. dollar appear stronger. In turn, that could lower Gold prices, since Gold is still viewed in dollars. Of course, that is only one factor in a pool of many factors that affect the prices of Precious Metals.

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

  • Gold, $1,248.20, Up $0.20.
  • Silver, $18.86, Up $0.12.
  • Platinum, $1,439.00, Down $14.70.
  • Palladium, $833.00, Down $3.40.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.

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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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