Morning Gold & Silver Market Report – 9/5/2014
Ryan Schwimmer
9/5/2014 8:04:51 AM
DISAPPOINTING JOBS REPORT BOOSTS GOLD
A largely disappointing number of jobs were created in August, allowing the Gold price to recover from some losses incurred earlier in the week. The U.S. Labor Department reported an increase of 142,000 jobs to the economy. Many economists had expected a level near 228,000 or more. U.S. stock futures dipped on the news, pointing towards a lower open for Wall Street.
Some investors were surprised that yesterday’s announcement of monetary policy easing in Europe didn’t have more of a positive effect on Gold. UBS said in a note this morning, “It would have to take more aggressive action from the ECB, which is likely to come alongside a sharp deterioration in euro zone growth, for Gold to benefit significantly. In this scenario, concerns on weaker growth could potentially reactivate physical demand in Europe, should the fear-trade gain traction.”
At 9 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,269.60, Up $2.10.
- Silver, $19.11, Down $0.03.
- Platinum, $1,408.90, Down $0.40.
- Palladium, $888.30, Down $2.80.
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
