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Market Reports

Morning Gold & Silver Market Report – 3/10/2014

GOLD FLAT ON ECONOMIC DATA

Gold and Silver prices are flat in early morning trading. Last week’s U.S. payrolls data has most investors thinking positively of the state of the economy, putting pressure on the Gold price. Societe Generale analyst Robin Bhar said, “Clearly Gold is battling headwinds coming from the improving U.S. economy, certainly on the jobs front. We see a close (negative) correlation between Gold and the U.S. 10-year yield, which spiked up on Friday, and saw Gold at its recent lower levels. There's some risk aversion, though, which should be supportive. I'd expect to see a broad $1,330-1,350 [per ounce] range.”

Margin debt is at a high in the stock market at the moment, which has some analysts urging caution to investors. Brad McMillan, chief investment officer for Commonwealth Financial, explained, “As that debt goes up, the market’s foundation gets shakier and shakier. The correction could be deeper.” Also concerning analysts are bubbles, record highs, valuations and the history of bull markets like this one.

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

  • Gold, $1,338.90, Down $1.30.
  • Silver, $20.91, Down $0.05.
  • Platinum, $1,476.00, Down $9.60.
  • Palladium, $776.00, Down $5.80.

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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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