Closing Gold & Silver Market Report – 8/12/2014

Ted Prince

8/12/2014 4:00:00 PM

GOLD IN STALEMATE AS SUMMER DOLDRUMS GRIP MARKETS

The Gold price remains relatively unchanged for a second straight session as the historically low-volume summer months plague Precious Metals markets. Analysts usually expect volume to pick up toward the beginning of September. With U.S. forces stepping in to assist against rebels in Iraq and tensions escalating between Ukraine and Russia, the potential for accelerated violence continues to linger. Investors continue to eye Gold and Silver as a safe-haven alternative should military conflict rise in these hot zones. 

Following their largest two-session surge since April, U.S. stocks are trading lower today as energy shares weighed on benchmark indexes.  “We’re in a zone of ambivalence with investors maintaining a cautious bias,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, said.  “Equities appear to be navigating the dog days of summer with markets being driven more by geopolitical events than economic and company fundamentals.”  U.S. investors will continue to eye geopolitical developments before entering new positions in the coming weeks. 

At 5:00 p.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,310.50 Even
• Silver, $19.96 Down $0.16
• Platinum, $1,471.80 Up $0.20
• Palladium, $879.40 Up $3.60

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