Morning Gold & Silver Market Report – 8/19/2014
Paul Stevens
8/19/2014 8:28:00 AM
METALS MOVE AS INVESTORS LOOK TO FED FOR DIRECTION
Precious Metals prices are gaining through early morning trading. After two consecutive days of losses, Gold prices are rebounding as investors continue to monitor volatile political situations around the world. Also on investors’ minds are U.S. data being released today and Federal Reserve chairwoman Janet Yellen’s speech Friday. VTB Capital analyst Andrey Kryuchenkov said, “We are still trading in small ranges as there's hardly any volume. As far as the market is concerned, risk sentiment has improved somewhat, so we will still be paying attention to developments in Iraq and Ukraine as well as the U.S. inflation report later today.”
Recent numbers show the U.S. consumer price index climbed at its slowest pace in five months. Although the economy is slowly showing signs of picking up, data supports the notion that price pressures remain in place. Michael Feroli, chief U.S. economist at JPMorgan Chase & Co., said, “Some of the inflation concerns that you were hearing back in June will probably ease off a little bit. It takes some pressure off the Fed to speed up rate normalization. There had been a lot of rhetoric about the Fed being behind the curve on inflation, and this probably takes some wind out of that.”
At 9:27 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,301.10, Up $0.80.
- Silver, $19.61, Down $0.08.
- Platinum, $1,442.80, Down $3.40.
- Palladium, $896.10, Up $0.30.
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
