Closing Gold & Silver Market Report – 8/11/2014
Ted Prince
8/11/2014 4:02:00 PM
GOLD REMAINS FLAT AS INVESTOR SENTIMENT INCREASES FOR JULY
Precious Metals are trading near even today as a lack of news headlines keeps price movement to a minimum. Investors continue to eye geopolitical crises in the Middle East and Ukraine as bearish forecasts from major financial institutions from early 2014 continue to prove inaccurate. Gold has risen 9 percent this year as tension overseas continues to boost the safe-haven appeal of the yellow metal. Many analysts and economists are still expecting a range-bound price pattern for Gold and Silver in the short-term. With strong economic factors suppressing a price breakout for Gold and Silver, investors await new factors that could influence significant price movement in the coming weeks and months.
Though Gold remains inside of a tight trading range, BullionVault’s Gold Investor Index reflected an increase in Gold-buying sentiment for the month of July. With continued gains for equities suppressing much appeal for Precious Metals, June’s consumer sentiment had fallen to its lowest level in 52 months. As we reach the end of the summer doldrums, traders and investors alike will be waiting to see if Precious Metals can surge behind renewed interest for bullion.
At 5:00 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,309.80 Down $1.20
- Silver, $20.05 Up $0.09
- Platinum, $1,472.20 Down $6.10
- Palladium, $877.50 Up $15.90
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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
