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Geopolitical Jitters Limit Gold Loss

Daily Gold & Silver Market Report – 04/20/2017

Precious Metal prices including Gold fell for a second straight session Thursday even with an ease in the U.S. dollar. MarketWatch News Editor Rachel Koning-Beals said, “Prices for the yellow metal initially extended their losses in electronic trading Wednesday afternoon when the Federal Reserve released its largely upbeat Beige Book synopsis of economic conditions, a report that, along with Thursday's data, support calls for interest-rate hikes this year, typically a drag for non-yielding Gold.” Furthermore, investors have remained on edge ahead of the first round of France's presidential election Sunday after a poll showed voting is closer than expected. Koning-Beals notes, British Prime Minister Theresa May’s call on Tuesday for a snap general election in June, a strategic step as she navigates Britain’s exit from the European Union, added to riskier market nervousness,” underpinning Precious Metals such as Gold and Silver.

Volatility in Silver Prices

Often referred to as Gold’s little brother, Silver prices have “a penchant for extreme volatility at times, but [they] also can sit and torture those waiting for a move,” Seeking Alpha Reporter Andrew Hecht said. Both investors and speculators not only love volatility, but they also thrive in markets with a high degree of price variance.” Hecht said the lowest recent level for Silver was $13.64 per ounce in December 2015. While Silver prices have moved higher this year, events in Syria, Afghanistan and North Korea have pressured U.S. relationships with both China and Russia, causing all Precious Metals to spike. What's more, Hecht says “it will eventually be Silver that moves the most aggressively on a percentage basis.”

Commodities Watch

Understanding commodities are vital to gauge the performance of other asset classes such as bonds, equities, and even currencies,” EconoTimes.com said. If you followed financial markets back in 2014, you could recall the impact of the drop in oil prices for countries such as Russia, Brazil and Malaysia, while importers of oil like India largely benefited from it. This shows it is important investors keep tabs on trends in the commodities market. Historically speaking, commodity price increases have a trickle effect, with the prices of commodities affected first. You will then see a rise in inflation, which triggers a selloffs in bonds, which is generally not good for equities. It is in these times investors turn to save-haven assets such as Gold and Silver.

At 11:29 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,281.80 Down $2.30
  • Silver, $18.03 Down $0.24
  • Platinum, $980.40 Up $9.60
  • Palladium, $805.60 Down $25.10

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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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