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Morning Gold & Silver Market Report – 1/6/2014


Precious Metals are trading even today as concerns regarding a slowing Chinese economy look to influence higher Gold and Silver prices.   “Weaker equities will have more of an impact on Gold prices than a stronger dollar,” UOB-Kay Hian Securities analyst Helen Lau said.  This week, investors look to the release of minutes from the U.S. Federal Reserve’s December policy meeting and monthly non-farm payroll figures to determine the strength of the U.S. economy and the future of quantitative easing.  “With the Fed having set the tapering process in motion, it would likely take a fairly significant miss to derail tapering expectations and push yields significantly lower from their year-end levels,” analysts at BNP Paribas said.

As disappointing data released from China shows a slowing services sector, domestic investors look to see whether the news will impact U.S. stocks.  However, the release of December’s Fed minutes will remain a central focus, as will non-farm payroll numbers on Friday.  “The key focus of the minutes will be to discern whether meeting participants viewed the first tapering move as the beginning of a steady sequence of purchase reductions which should continue over the next several meetings, or whether they are leaning toward a more tentative approach,” Deutsche Bank strategist Jim Reid wrote in a morning note. Reduction of monetary stimulus measures has put significant pressure on Precious Metals this year.  Many analysts and investors now wonder if further tapering will continue to depress metals prices or if the scale-down of liberal monetary policy has already been figured into the prices of Gold and Silver. 

At 9:42 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,245.50, Up $4.40.
  • Silver, $20.33, Up $0.07.
  • Platinum, $1,423.70, Up $7.50.
  • Palladium, $736.60, Down $5.40.

For more APMEX reviews of daily and weekly Precious Metals market activities, visit our News and Commentaries page.

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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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