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Prices of Silver Dip before Christmas Rally

Daily Gold & Silver Market Report – 12/06/2017

Investors have watched the price of Silver continue to struggle. Commodity Trade Mantra says, “The longer-term chart looks fine but on the emotional short-term charts, the struggles continue. There are many questions that arise from the recent activity. ” If economic growth is so good, where is the demand for industrial Silver? The report says the lack of economic growth is selling Silver relentlessly. Compared to the S&P 500, Silver prices are near a two-decade low. However, traders and market watchers alike feel that Silver prices could rise and the S&P will correct, perhaps soon. In fact, all indicators show a strong rally in Precious Metal prices over the coming weeks, especially as Christmas nears.

Bitcoin Mimics Silver in the 1970s & 1980s

Renowned trader Mark Fisher told CNBC Tuesday that Bitcoin’s current run is “very similar to that of Silver's nearly 40 years ago.” Fisher is positive the reason buyers are so attracted to the cryptocurrency is the volatility and the simple fact that it is moving. CNBC Reporter Berkeley Lovelace Jr. says Bitcoin has hit new highs multiple times in 2017 alone, passing the $11,800 mark Sunday. In fact, it has surged more than 1,000 percent this year. As a commodities trader, Fisher says he doesn’t care what it is, “as long as it moves.”


Bloomberg Reporter Ranjeetha Pakiam said, “Even as the Federal Reserve tightens monetary policy and the European Central Bank tapers bond purchases, Gold is set to rise marginally as real interest rates stay low and the dollar weakens.”  TD Securities Inc. Global Head of Commodity Strategy Bart Melek said in a phone interview last week, “We don’t expect a big shock from the Fed in terms of rates. Real rates continue to be quite low by historical standards. That represents a fairly limited rise in the opportunity costs of holding zero-yielding assets like Gold.” Although physical Gold bullion has climbed 10 percent this year, Pakiam said, “it’s been range-bound since the end of September as the U.S. stock market hit numerous records and optimism grew over President Donald Trump’s tax reform plans.” And while a substantial equity correction, or signs the Russian probe is hurting Trump, could push Gold sharply higher, investors say the outlook seems to be fairly fixed for now. Furthermore, U.S. tax reforms could support Precious Metals, Melek said, as the legislation is set to add more than $1.4 trillion to the federal deficit over a decade.

At 11:50 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,266.00 Up $1.10
  • Silver, $16.05  Down $0.08
  • Platinum, $901.90  Down $16.60
  • Palladium, $995.60 Up $9.50

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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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