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Morning Gold & Silver Market Report –6/25/2014

PRECIOUS METALS DOWN AS STOCKS STRUGGLE

Precious Metals are trading at a slightly lower rate in early morning trading.  After Gold reached two-month highs, some investors are cashing in on gains as they continue to monitor the escalating geopolitical risk in Iraq. Societe Generale analyst Robin Bhar said, “Risk aversion in Gold can work either way. If you have risk aversion in other markets, Gold can suffer because it's a liquid asset that can be sold to pay for margin calls in those markets.”

U.S. stocks are declining after today’s GDP data release showed a decline of 2.9 percent, which was the economy’s worst performance in three years.  Today’s numbers combined with a lack of market volatility is fueling the fear of an upcoming “black swan event.”  When speaking about the Volatility Index (VIX), Catherine Shalen, Chicago Board Options Exchange director of research, said, “It's just up like a hook for the whole month of June. What's happening is that in spite of the fact that everybody says the VIX is low and the market is complacent, the market is not complacent in every way. This is telling us that some investors who trade in options believe that the probability for a sharp, three-standard-deviation move has increased.”

At 9:28 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,319.70, Down $3.60.
  • Silver, $21.04, Down $0.06.
  • Platinum, $1,464.20, Down $9.70.
  • Palladium, $826.90, Down $3.50.

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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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