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Market Reports

Morning Gold & Silver Market Report – 5/19/2014

METALS GAIN AS PLATINUM STRIKE CONTINUES

Strong U.S. economic data is capping gains in the Gold market, though it hasn’t stopped the yellow metal from passing the $1,300 per ounce mark. While Platinum and Palladium prices continue rising due to the ongoing strike in South Africa, the Gold price is underpinned by a weaker dollar. The European Central Bank (ECB) is expected to cut interest rates soon, which could impact Gold. Macquarie analyst Matthew Turner explained, “The ECB's loose monetary policy should be bullish for Gold but the downside is that it makes the euro weaker, lifting the dollar up so it might not be seen in the dollar Gold price.”

U.S. stock futures are pointing toward a lower open for Wall Street on corporate earnings and news of large-scale acquisitions. Former U.S. President George W. Bush and his institute are hosting a panel discussing monetary policy this afternoon. Dallas Fed President Richard Fisher, a voting member of the Federal Open Market Committee, will speak at 12:10 p.m. (ET).

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

  • Gold, $1,303.80, Up $8.40.
  • Silver, $19.63, Up $0.25.
  • Platinum, $1,484.10, Up $18.00.
  • Palladium, $822.30, Up $6.30.

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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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