Morning Gold & Silver Market Report – 9/18/2014

Ryan Schwimmer

9/18/2014 8:26:12 AM

INTEREST RATE EXPECTATIONS PRESSURE GOLD

Hints from the Federal Reserve that interest rates could be rising ahead of schedule caused the Gold price to hit an 8 1/2 month low in overnight trading. The U.S. dollar, conversely, jumped to a four-year high. Mistubishi Corp analyst Jonathan Butler said, “Gold wiped out pretty much all the gains from very early January ... I think that was to be expected given that this was the clearest indication yet of the intention to raise rates next year.”

U.S. stock futures are pointing to a higher open for Wall Street after news of easing in China. The country’s central bank cut short-term borrowing costs for banks. Craig Erlam, market analyst at Alpari U.K., called this move a “massive statement of intent.” He continued, “We know this has worked in the past, so there is no reason to believe it won’t work again, and the markets love it.”

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

• Gold, $1,221.00, Down $15.90.
• Silver, $18.44, Down $0.36.
• Platinum, $1,344.90, Down $18.30.
• Palladium, $822.60, Down $16.40.

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.