Morning Gold & Silver Market Report – 11/14/2014

Paul Stevens

11/14/2014 9:07:00 AM

METALS FEEL PRESSURE AS DOLLAR CONTINUES GAINS

Precious Metal prices are on the decline in early morning trading. As the U.S. dollar hit a seven year high against the yen, Gold is feeling the pressure. However, the recent price drop hasn’t been completely negative for metals, as lower prices typically call for higher demand. Afshin Nabavi, head of trading at MKS, said, “There is some pressure that seems to be dollar related … Premiums are rising, which generally speaking is a good indication that there is a shortage of material in the market.”

U.S. Treasuries prices are falling this morning as investors take in the latest round of news showing rebounding U.S. retail sales in October. The eurozone saw an increase as the economy grew at a faster pace than most analysts forecast. However, a recent Bloomberg Global Poll of investors showed most are still concerned with the world economy and believe it is in the worst shape in two years. Robert Pavlik, who helps oversee $4.5 billion as chief market strategist at Banyan Partners LLC in New York, said, “As we move closer to the end of the year people are looking for a holiday rally and may be asking if it’s happened already. The small retail beat isn’t going to do it. We’re going to see a little pause. We can’t continue to climb up this ladder forever.”

At 10:08 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,172.00 Up $7.10
• Silver, $15.93 Up $0.21
• Platinum, $1,197.80 Down $3.20
• Palladium, $767.60 Down $4.20

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