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Morning Gold & Silver Market Report – 3/4/2014

METALS PULLBACK; U.S. STOCKS UP ON PUTIN COMMENTS

Precious metals opened with lower trading giving back some of yesterday’s gains.  With no new economic data being released investors are keeping a close eye on the up and down situation in Ukraine.   Rebecca O’Keeffe, head of investment at stockbroker Interactive Investor said, “This increased volatility has impacted almost all areas of the market, from equities to bonds and commodities. While it has undoubtedly created a number of buying opportunities, with the political, economic and energy risks so high, investors will need to be careful.” 

U.S. stocks rebounded on Tuesday from their biggest loss in a month as Russia’s President made the comment there will be no immediate military action in Ukraine.  Gunther Westen, head of asset allocation and fund management at Meriten Investment Management GmbH said, “There’s quite a lot of noise right now. On the geopolitical front, you have Ukraine in the limelight. This is certainly a threat, but market concerns tend to fade as long as the situation doesn’t get worse or as long as the economies are not heavily influenced.”

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

  • Gold, $1,337.00, Down $15.30.
  • Silver, $21.15, Down $0.36.
  • Platinum, $1,458.90, Down $3.80.
  • Palladium, $755.70, Up $5.70.

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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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