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Morning Gold & Silver Market Report – 7/17/2014

METALS RECOVERY CONTINUES; PALLADIUM AT 13 1/2 YEAR HIGH

Precious Metals are trading higher this morning, continuing the recovery that started yesterday. Fresh sanctions on Russia by the U.S. weighed stocks down, making way for higher Gold and Silver prices. The Palladium price hit a 13 1/2  year high on the sanctions. Mitsubishi analyst Jonathan Butler explained, “I am forecasting a 1.8 million-ounce palladium deficit this year due to the perfect storm of South African supplies falling to a near-20-year low, growing autocatalyst demand and of course the heavy inflows into the two South African ETFs.”

Andrew Smithers, chairman of Smithers & Co., was one of the only analysts to warn of the late 1990s stock bubble, and he believes we are now seeing the third largest stock bubble in U.S. history. Smithers used a collection of data to come to that conclusion, but also says that stocks will likely go even higher before the bubble bursts.

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

  • Gold, $1,307.00, Up $6.20.
  • Silver, $20.87, Up $0.10.
  • Platinum, $1,500.30, Up $13.60.
  • Palladium, $887.40, Up $9.60.

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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