Morning Gold & Silver Market Report – 7/23/2014
Ryan Schwimmer
7/23/2014 10:03:56 AM
PRICES FLAT AMID GEOPOLITICAL TENSIONS
Gold and Silver prices are mostly flat in morning trading. Commodities analysts at Commerzbank wrote Wednesday that there is only “slight upside potential” in the short term for the yellow metal, but geopolitical tensions, if heightened, could boost Gold’s safe haven appeal. Gold is also hurting from waning physical demand in China and India, the world’s top Gold buyers.
Stocks fluctuated this morning after the S&P 500 index hit another record. Robert Pavlic, chief market strategist at Banyan Partners, said, “Overall, the market is still on a positive trajectory, but there is still some concern about growth going forward, the Federal Reserve and geopolitical events.” JJ Kinahan, chief strategist at TD Ameritrade, said, “We did have another Ukraine situation this morning with some planes, and whenever you have any geopolitical situation it casts nervousness over everything.”
At 11:02 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,307.90, Up $0.60.
- Silver, $21.00, Down $0.01.
- Platinum, $1,487.20, Down $2.10.
- Palladium, $876.00, Up $0.20.
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
