Closing Gold & Silver Market Report – 9/24/2014
Ted Prince
9/24/2014 4:18:00 PM
METALS FLAT AS WORLD STOCKS GAIN
Precious Metals prices are relatively flat through afternoon trading. Economic data showing an 18 percent increase in new single-family home sales for August helped boost the U.S. dollar. The data suggests a seasonally adjusted annual rate growing at its fastest pace in more than six years, while at the same time providing a small amount of pressure to metals.
Stocks around the world gained Wednesday as the euro’s struggles continued. This can be attributed to European Central Bank President Mario Draghi’s announcement that the ECB plans to keep its monetary policy loose for an extended period. Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, NY, said “ This is a market that continues to attract capital from other asset classes, because where else can investors go for yield?”
At 5:00 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,218.70 Down $4.80
- Silver, $17.74 Down $0.11
- Platinum, $1,318.70 Down $16.00
- Palladium, $818.00 Up $2.20
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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
