Closing Gold & Silver Market Report – 8/25/2014

Ted Prince

8/25/2014 3:51:00 PM

PRECIOUS METALS FLAT WITH GOLD BUGS SIDELINED

Precious Metals prices remain relatively unchanged Monday as strength in the U.S. dollar and interest rate speculation keep investors sidelined.  Gold, in particular, continues to hover near a two-month low as analysts await renewed interest in the yellow metal.  Though Gold has been largely range bound for the last several months, it is still trading six percent higher year-to-date.  As markets prepare to exit the summer doldrums, investors and analysts remain focused on the Federal Reserve’s interest rate policy and geopolitical tensions to spur the future trajectory of Gold and Silver prices. 

U.S. stocks continue their upward surge as the S&P 500 breached 2,000 for the first time today.  “This number, 2,000, is a pretty significant number from psychological and financial points,” Joe Bell, senior equity analyst at Schaeffer’s Investment Research Inc., said. “Perhaps we might reach a little bit overbought status, and it looks like the index is going to take a breather there.”  If a ‘breather’ should segue into a significant pullback, Gold could benefit due to its inverse relationship with equities. 

At 4:51 p.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,278.50 Down $2.70
• Silver, $19.37 Down $0.06
• Platinum, $1,418.10 Up $0.40
• Palladium, $891.10 Up $2.50

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