Morning Gold & Silver Market Report – 2/25/2014

Paul Stevens

2/25/2014 8:39:00 AM

PRECIOUS METALS TRADING FLAT AS INVESTORS EYE UPCOMING DATA

Gold is trading relatively flat through early morning trading, giving back some of its previous gains.  With new weak U.S. economic data expected and turmoil between governments and their citizens abroad, Gold’s decline from last year is turning around.  Marex Spectron head of Precious Metals David Govett said, “So far Gold’s resilience has surprised me. We have dipped off a few times, but these dips have been met by some good buying, and certainly some of the large selling that was so evident last year seems to have disappeared.”

With the summer quickly approaching, oil prices and the state of global economies could quickly become a concern.  When speaking to CNBC Asia's "Squawk Box," Ultimate Wealth Report editor Sean Hyman said, “Oil has been consolidating for several years in a sideways pattern and I believe that global demand is picking up and that's going to shoot it through the top of that range.  Once it finally does, we will see it hit $140 [per barrel] faster than a lot of people's heads can spin.”  This could be big for Gold, which historically has had a positive correlation with oil. 

At 9:38 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,338.20, Down $1.80.
• Silver, $21.86, Down $0.26.
• Platinum, $1,439.30, Down $4.10.
• Palladium, $737.00, Down $7.00.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.