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Market Reports

Morning Gold & Sliver Market Report – 7/1/2014

METALS CONTINUE RISE AHEAD OF JOBS DATA

Precious Metals prices are rising through early morning trading as geopolitical situations around the world continue to be a focus. This Thursday’s release of closely watched U.S. non-farm payroll data could be very significant for Gold.  Following consecutive quarterly gains, Gold bulls are expecting June’s jobs report to fall short of the Federal Reserve’s expectations, which could provide another boost to Gold prices.   Hans Goetti, head of investment Asia at Banque Internationale a Luxembourg said, “Chances are the Fed will overstay its welcome with easy money. This is bullish for gold.”

As the U.S. dollar continues to struggle, European and Asian stocks are on a upbeat trend. Upbeat Chinese data, along with some relief from European banks, have investors hoping for a quicker recovery.   DZ Bank strategist Christian Lenk said, “EMU inflation remains at a very low level and this rather supports the dovish tone of the ECB in general but not changing their view for now.”

At 9:10 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,330.20, Up $6.20.
  • Silver, $21.17, Up $0.11.
  • Platinum, $1,504.00, Up $20.10.
  • Palladium, $851.80, Up $8.70.

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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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