Morning Gold & Silver Market Report – 9/16/2014

Paul Stevens

9/16/2014 8:18:16 AM

METALS GAIN MOMENTUM AHEAD OF FED MEETING

Precious Metals are higher through early morning trading. Although Gold has struggled recently, investors await an announcement Wednesday from the Federal Reserve’s two day policy meeting to make their next move. Deutsche Bank analyst Michael Lewis said, “(The) market focus is more on the language of the Fed and whether it will remove that reference to 'considerable time' before any rate increase. But if there is any sign that the Fed is not as hawkish as the market expects, then you could see some short-term boost to Gold.”

Stock prices around the world continue declining for the third straight day ahead of the Fed’s scheduled two day policy meeting. Disappointing data out of China showing non-financial investments in August fell 14 percent from last year, an unexpected decline in U.S. factory output, and continued turmoil in Ukraine have provided pressure to world markets. Guillaume Duchesne, an equity strategist at BGL BNP Paribas SA in Luxembourg, said, “Fed interest rate policy is the central issue for everybody.”

At 9:16 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,238.10, Up $2.20.
• Silver, $18.77, Up $0.09.
• Platinum, $1,366.40, Up $1.90.
• Palladium, $838.00, Up $1.10.

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