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Morning Gold & Silver Market Report – 11/25/2013


Gold has reversed initial losses this morning as the metal came under pressure following a deal to restrain the expansion of Iran’s nuclear program. The temporary relief of geopolitical tension tends to have a positive impact on the dollar and equities, causing the price of Precious Metals to dip.  As the Gold price eases to start the week, most investors remain focused on the Federal Reserve and the future of quantitative easing measures. “The Iran deal, is just another short-term factor why you continue to see headwinds," Bank of America Merrill Lynch analyst Michael Widmer said.  "The big issue is still the monetary tightening in the U.S. and that hasn't gone away.”

U.S. Stock futures are on the rise this morning as the nuclear deal helped lift markets.  The Iranian nuclear agreement is seen as a short-term positive motivator for equities markets.  Coupled with the Fed’s ongoing stimulus measures, stocks continue to rally.   "Although the buying is not robust, there has been a lack of sellers," and that means "the path of least resistance is higher," Wayne Kaufman, chief market analyst at Rockwell Securities, said. "The economy has been doing pretty well. So I think we're fine into next quarter, but the market is definitely becoming more selective."

At 10:35 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,245.00, Down $1.60.
  • Silver, $19.99, Up $0.07.
  • Platinum, $1,385.20, Up $1.50.
  • Palladium, $720.70, Up $5.20.

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APMEX 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. 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 Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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