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Morning Gold & Sliver Market Report – 6/30/2014

GOLD,  SILVER COULD FACE VOLATILE WEEK

Gold, Silver and crude oil are all facing a potentially volatile week as a number of top tier economic data will be released and geopolitical tensions, especially in the Middle East, continue. Gold and Silver are both slightly lower in early morning trading. It is interesting to note that Silver has outgained Gold in June and is currently up 11 percent. As U.S. economic data is released, better than expected data could put a damper on Gold and Silver prices, while if data disappoints, we could see further gains. The situation in Iraq does not seem to be improving and continued escalation will boost both Gold and crude oil.

The Bank for International Settlements (BIS), a Swiss-based financial institution that acts as counterparty to national central banks, believes that stocks are in a “euphoric state.” The BIS is composed of economists who monitor central banks and see how capable they are of responding to emerging economic conditions in a timely manner. It is especially concerning that the U.S. stock market has gone more than two years without a 10 percent correction. Hearing the BIS state that stocks are in a euphoric state should be enough to scare anyone, especially if you consider how ill-prepared central banks were for the recession that began in 2007.

At 9:15 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,317.20, Down $4.80.
  • Silver, $20.89, Down $0.24.
  • Platinum, $1,483.70, Up $2.40.
  • Palladium, $844.30, Up $1.40.

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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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