Mid-Day Gold & Silver Market Report – 6/20/2014
Paul Stevens
6/20/2014 12:28:02 PM
METALS CONTINUE RISE AS INVESTORS WATCH IRAQ
Precious Metal prices are continuing their upward movement through mid-day trading. As investors continue to digest the fact that U.S. interest rates possibly will remain steady, continued violence in Iraq has given Precious Metals’ safe-haven appeal a boost. Edward Meir of INTL FCStone wrote, “We suspect that Gold should enjoy a degree of underlying support from geopolitical headlines, which still remain concerning and have the ability to seriously destabilize the markets, especially if they result in a further spike in oil prices.”
Earlier this week, the Federal Reserve announced it believed interest rates would increase at a slightly quicker pace than expected starting next year. However, not all investors agree with this stance and the current position of the bonds market reflects this. J.P. Morgan Funds Chief Global Strategist David Kelly told CNBC Friday, “The bond market is unbelievably more dovish than the Federal Reserve itself. I think the Fed's forecast for the economy are wrong. And their policy is too dovish based on those policies.”
At 1:27 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,318.20, Up $2.10.
- Silver, $21.01, Up $0.30.
- Platinum, $1,460.80, Down $15.70.
- Palladium, $823.30, Down $15.30.
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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
