Mid-Day Gold & Silver Market Report – 9/23/2014
Ryan Schwimmer
9/23/2014 12:36:00 PM
GARTMAN: ‘THERE WILL BE A TIME’ TO OWN GOLD
Gold’s safe-haven appeal has been bolstered in morning trading by news surrounding U.S. air strikes in Syria as geopolitical turmoil is historically bullish for the yellow metal. Dennis Gartman of the Gartman Letter said recently that owning Gold is not for the faint of heart. He believes that “[t]here will be a time when inflationary pressures will once again exhibit themselves, but that time is not now.”
Fears over the events in Syria have also affected stocks, as Wall Street traded lower this morning. Chris Gaffney of EverBank Wealth Management said, “The environment for stocks remains favorable, as the Fed continues to stay accommodative. Earnings continue to increase and there is lack of alternatives. We expect stocks to finish the year higher. However, we believe the era of rising tides when all stocks were lifted is over and stock selection is more important.”
At 1:35 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,220.90, Up $3.50.
- Silver, $17.84, Even.
- Platinum, $1,334.20, Up $2.00.
- Palladium, $815.50, Up $12.30.
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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
