Mid-Day Gold & Silver Market Report – 3/26/2014

Ted Prince

3/26/2014 12:12:00 PM

GOLD BUOYED BY CHINESE DEMAND, POSSIBLE ECB STIMULUS

The Gold price fell this morning as a stronger U.S. dollar further pressured the yellow metal.  However, Gold remained above the technical level of $1,300 per ounce as robust demand from China and the prospect of a European Central Bank stimulus helped buoy Precious Metals from further experiencing further losses.  The recent price pullback has influenced sidelined investors to re-enter the Precious Metals market. “Those investors that had patience and didn’t chase prices in January and February have now got their buying opportunity,” Ken Ford, founding partner at Warwick Valley Financial Advisors, said. 

U.S. stocks are up again today as the S&P 500 remains on course for a fifth consecutive quarter of gains.  “There is a lot of tug of war, a lot of tensions back and forth,” Ed Crotty, chief investment officer at Davidson Investment Advisors in Seattle, said. “Valuation have kind of moved from what was severely depressed valuations to more or less normal valuations. Now it’s going to be about fundamentals.”  With economists at odds on the actual health of the U.S. economy, retail investors will continue to gauge Gold and equities markets for signs regarding their future trajectory. 

At 1:09 p.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,304.90, Down $8.50.
• Silver, $19.83, Down $0.19.
• Platinum, $1,408.80, Down $14.10.
• Palladium, $780.30, Down $9.10.

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.