Morning Gold & Silver Market Report – 9/9/2014

Paul Stevens

9/9/2014 8:31:00 AM

METALS MOVING UP AS DOLLAR GAINS

Precious Metals are trading slightly higher through early morning trading.  Investors continue to monitor unrest around the world, while a lack of new news and a recent move up by the U.S. dollar is providing pressure to the metals.   OCBC Bank analyst Barnabas Gan said, “Gold appears to be testing its $1,250 an ounce support handle, and any break below may see the precious metal extend its bearish trend.”

The U.S. dollar gained momentum on Tuesday and jumped to its highest level in 14 months against several currencies and a six-year high against the Chinese yen.  A recent Federal Reserve study tracking rising U.S. yields has led some investors to reconsider higher rates.  Emma Lawson, senior currency strategist at National Australia Bank said, “The market's interpretation is that perhaps it had better re-price those expectations.”

At 9:30 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,266.20, Up $0.20.
• Silver, $19.03, Up $0.03.
• Platinum, $1,396.00, Down $2.50.
• Palladium, $885.90, Down $0.30.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.