Morning Gold & Silver Market Report – 9/11/2014

Ryan Schwimmer

9/11/2014 8:02:00 AM

GOLD HITS LOWEST IN SEVEN MONTHS

The Gold price is down slightly in early morning trading, though the dip was enough to bring the yellow metal to its lowest price in more than seven months. Some analysts believe that Gold is one deciding factor away from turning positive. HSBC said in a note, “While Gold may face further pressure in the current macro environment, a pick-up in physical demand would help stem the possibility for further losses. Physical demand appears light despite Gold's price decline so far in the month.”

U.S. stock futures are pointing toward a negative start for Wall Street, which was compounded by the fact that jobless claims in the country rose to a two-month high. Though the level of jobless claims in the U.S. is still near pre-recession levels, some see it as a bearish sign for the overall jobs picture. The U.S. Labor Department noted that seasonal adjustments are normal this time of year.

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

• Gold, $1,245.60, Down $0.70.
• Silver, $18.83, Down $0.16.
• Platinum, $1,381.30, Down $0.70.
• Palladium, $846.70, Down $2.40.

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