Morning Gold & Silver Market Report – 6/10/2014
Paul Stevens
6/10/2014 8:16:00 AM
Precious Metals prices are gaining momentum and trading higher through early morning trading. A day after the S&P 500 and the Dow Jones Industrial Average closed at record levels U.S. stocks are losing steam and are on the way down. As investors await Tuesday’s jobs opening data, some economists are watching market trends and waiting for what’s next. Peter Cardillo, chief market economist at Rockwell Global Capital said, “As investors digest the news coming in and don’t have a sharp drop at the opening, they start to push markets higher again. “ He then added, “The volatility index is at very low levels and everyone is expecting some kind of pullback or correction, but it doesn’t seem to happen. The news continue[s] to get better now.”
China’s inflation accelerated at its fastest pace in four months in May. These numbers along with projections showing the slowest growth to the economy since 1990 have economists considering what the government’s next move is. Hu Yifan, chief economist at Haitong International Securities Group Ltd. in Hong Kong said, “Low inflationary pressure provides room for further reserve-ratio cuts in the coming months.”
At 9:14 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,263.50, Up $7.60.
- Silver, $19.24, Up $0.12.
- Platinum, $1,480.10, Up $24.80.
- Palladium, $852.50, Up $10.80.
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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
