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Morning Gold & Silver Market Report – 7/7/2014


After the holiday weekend in the U.S., Gold and Silver are trading slightly lower. The U.S. dollar is trading higher for a fifth straight day, putting pressure on Precious Metals prices. ABN Amro analyst Georgette Boele said, “The good U.S. payrolls report has put the focus on interest rates expectations, and that's why Gold and Silver have been moving lower. If data continues to come in strong, it will be very interesting to see if the [U.S. Federal Reserve’s] rhetoric changes, and that could have a dramatic impact on U.S. interest rates expectations for 2015.”

U.S. stock futures are pointing lower in premarket trade, which many analysts were expecting after record highs were hit Thursday by the Dow Jones Industrial Average and the S&P 500 index. Many investors are holding off due to the looming start of earnings season Tuesday. Bank of Tokyo-Mitsubishi economist Lee Hardman said, “In a quiet week for U.S. economic data releases, the main U.S. event risk will likely be the release of the latest [Federal Open Market Committee] minutes from their meeting on the 17-18 June. However, it is unlikely that the minutes will provide much further insight into the Fed's policy outlook on top of the already released statement, updated economic projections, and press conference by Fed Chair [Janet] Yellen which followed their last meeting.”

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

  • Gold, $1,317.90, Down $4.70.
  • Silver, $21.00, Down $0.14.
  • Platinum, $1,505.40, Down $3.30.
  • Palladium, $867.60, Up $5.80.
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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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