Morning Gold & Silver Market Report – 11/17/2014

Paul Stevens

11/17/2014 10:33:00 AM

METALS REMAIN STEADY AS JAPAN SLIPS INTO RECESSION

Precious Metal prices start the week holding near two week highs during morning trading hours. Economic data showing Japan's economy has slipped into a recession has given the metals a boost; however a strong U.S. dollar held the metals in check. Macquarie analyst Matthew Turner said, "Friday's bounce has eased some nerves, and some of gold's internal supply-and-demand fundamentals actually look pretty strong. But to most investors that matters little while the bearish external factors such as the stronger dollar remain such a heavy."

Stocks around the world are on a decline Monday as data showed Japan, the world's third largest economy, is now in a recession. The news shocked markets and put pressure on Prime Minister Shinzo Abe, as tax increases are considered.  Etsuro Honda, a college professor and economic adviser to Abe, told Reuters, "This is absolutely not a situation in which we should be debating an increase in the consumption tax. Debate needs to focus on how to support the Japanese economy"

At 11:40 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,186.80 Down $1.80
• Silver, $16.20 Down $0.22
• Platinum, $1,202.30 Down $12.80
• Palladium, $770.30 Down $2.10

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