Morning Gold & Silver Market Report – 9/26/2014

Ryan Schwimmer

9/26/2014 8:23:51 AM

GOLD ON PACE TO BREAK LOSING STREAK

The Gold price is trading slightly lower this morning, though it is on pace to break a three-week losing streak. Saxo Bank manager Ole Hansen said, “We received a boost yesterday from low bond yields and falling stocks, but it is the [U.S.] dollar that holds the key ... and at the moment it's really a question of how strong the bullish sentiment towards the dollar is. Gold could fall below $1,200 [per ounce], but I maintain a cautious optimism that it won't break below the $1,180 [per ounce] area. The dollar has been strengthening on the weak economic outlook for Europe and relatively hawkish expectations for interest rates in the U.S., and in that sense the jobs report next week is really important.”

U.S. stock futures are trading higher today, pointing to a positive open for Wall Street. Second quarter gross domestic product was revised up to 4.6 percent from 4.2 percent, which marks the highest level since the recession. Fund manager Thomas H. Kee Jr. believes we may see the stock bubble of 2014 burst soon. He wrote, “The question I pose to you is if the economy actually would have been weakening over the past few years on a naturalized basis as my analysis suggests, but instead it has been supported by capital injected by the [Federal Open Market Committee] to inflate asset prices, what do you think will happen when the money flows stop?”

At 9:22 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,219.70, Down $3.70.
• Silver, $17.58, Up $0.08.
• Platinum, $1,308.40, Down $7.80.
• Palladium, $802.90, Up $0.10.

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.