Spot Price on Silver Increases in 2018
Cassie Bastien
4/25/2018 9:01:38 AM
Daily Gold & Silver Market Report – 04/25/2018
Heavily dependent on investment trends in 2018, CPM Group said Tuesday that Silver price charts could see a boost from international political and economic risk purchases. Silver spot prices are currently down about 1.6 percent this year, Reuters Reporter Renita D. Young said, though “they often rise in tandem with Gold prices in times of global political or economic uncertainty.” Although Silver demand has dropped in the past, Silver investors appear to be turning attention from stocks and bonds back to the Precious Metals market.
Wedding Season Lifts Gold Metal Demand
Charts show that domestic jewelers increased buying to meet the wedding-season demand even as the yellow metal weakened overseas. A report by BusinessLine said Gold spot dropped 0.38 percent to $1,324.70 an ounce in Singapore “as a stronger dollar reduced the appeal for Precious Metal as a safe-haven asset.” Though gains were limited, Gold spot price has only proven this to be true. The question is whether or not the price of Gold can continue to rise post wedding season.
Can Bitcoin Prices Reach $700k?
The annual Sohn Investment Conference in New York sees Wall Street’s best hedge fund managers and investors presenting their top stock picks. This year, one of those investors used Monday's stage to recommend a certain digital investment: Bitcoin. John Pfeffer, a partner at his London-based family office Pfeffer Capital, is not only betting on Bitcoin, but giving it a price target of $700,000. Although there does not seem to be a timeframe on this astronomical price, this is by far the biggest prediction for the digital currency, says news editor Jen Wieczner with Fortune. Pfeffer said the possibility alone is enough for him “to make a small, venture capital-style, buy-and-hold long-term bet on.”
At 10:01 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,324.00 Down $9.80
- Silver, $16.65 Down $0.17
- Platinum, $918.70 Down $17.30
- Palladium, $971.50 Down $12.20
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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
