Mid-Day Gold & Silver Market Report – 9/6/2014
Peter LaTona
10/6/2014 12:03:00 PM
GOLD, SILVER, PLATINUM & PALLADIUM PRICES MOVING UP
The Precious Metal Complex is moving up in morning trading as the U.S. dollar is showing signs of weakness. The global equity market was generally upbeat Monday, while the U.S. stock market is down. There is growing concern about a market correction. "Sentiment has been very negative; the markets have declined some and investors have gotten worried about economic growth, worried about Ebola, worried about interest-rate hikes from the Federal Reserve, and maybe about Bill Gross changing jobs. But really, we're still seeing, at least in the U.S., reasonable economic growth," Paul Nolte, portfolio manager at Kingsview Asset Management, said. The Federal Open Market Committee will release minutes from its last session on Wednesday. Investors will be watching closely as this could be the final month of Fed bond purchases.
The International Monetary Fund (IMF) most recent Global Financial Stability Report (GFSR) is calling for big changes in how bankers get paid. The GSFR evaluates executive pay, corporate governess and risk-taking in some of the world’s largest banks and insures policies that only prudent risk-taking should be rewarded. This report concludes that the current pay structures reward non-prudent risk-taking and short-term goals. The IMF would like to see rewards shifted towards long-term results. It is a particular concern that banking executives use an impressive short-term record to catapult their career and leave the balance sheet mess for someone else to clean up.
At 1:00 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,209.00 Up $13.90
- Silver, $17.33 Up $0.43
- Platinum, $1,250.10 Up $21.20
- Palladium, $767.50 Up $11.90
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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
