Morning Gold & Silver Market Report – 2/27/2014

Ryan Schwimmer

2/27/2014 8:23:28 AM

GOLD TRADING AGAINST THE DOLLAR

Precious Metals prices are back in the black in early morning trading. For investors looking to hedge against the U.S. dollar with Gold, VTB Capital analyst Andrey Kryuchenkov said, “Given the lack of serious physical demand, bullion remains at the mercy of investor and dollar sentiment. The inverse correlation to the U.S. dollar is at highs for the year,” adding that profit-taking could be a factor for Gold in the short term.

Disappointing economic data continues to be a hot topic, as a report released today showed that durable goods orders fell one percent in January. Many economists are chalking up the decline to the harsh winter season amid softened demand for big-ticket items. This is the third decline in four months for durable goods.

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

• Gold, $1,334.30, Up $4.30.
• Silver, $21.37, Up $0.07.
• Platinum, $1,450.50, Up $19.40.
• Palladium, $744.00, Up $11.50.

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.