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Morning Gold & Silver Market Report – 1/16/2014

GOLD JUMPS AS STOCKS LOSE SOME APPEAL

At the end of a rather slow week for the Precious Metals market, Gold is realizing modest gains as investors exit equity positions.  Following data that reflected a contraction in the numbers of U.S. homes built in December, stock index futures fell as the market digested the lackluster housing numbers.  “Until the air starts to come out of the in-my-opinion presently overly inflated stock-market balloon,” Gold will remain under pressure, one Precious Metals expert, said.  On top of poor home constructions figures, analysts predict a general slow-down in industrial production from November to December. 

U.S. stocks futures remain even as corporate earnings season continues.  “As Intel shows, it is becoming increasingly evident that investors are judging corporate earnings on a case-by-case basis,” Richard Hunter, head of equities at Hargreaves Lansdown Plc, said. “There is no firm theme emerging from what had already been lowered expectations.”  Both metals and equities remain teetering in anticipation of the future of quantitative easing. 

At 10:00 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,251.00, Down $8.30.
  • Silver, $20.32, Up $0.22.
  • Platinum, $1,449.70, Up $16.20.
  • Palladium, $748.90, Up $5.00.

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Disclaimer:
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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