Morning Gold & Silver Market Report – 12/3/2014
Paul Stevens
12/3/2014 11:26:00 AM
METALS RANGEBOUND AS INVESTORS AWAIT KEY DATA
Precious Metal prices are trading relatively flat through morning trading after seeing volatility command the market the two prior sessions. As investors prepare for the release of key economic data on U.S. markets and an announcement by European Central Bank head, Mario Draghi, firmer oil prices are helping provide a boost to the metals. Speaking of the recent movement in metals, Julius Baer analyst Carsten Menke said, “The key drivers in the medium to longer term are the recovering U.S. economy and expected rate hikes next year, which should dent investor demand for gold.”
U.S. stocks have seen little movement Wednesday as investors continue to gauge the market. Although many are awaiting for labor and other reports for direction, some strategist believe tomorrow’s ECB policy meeting could provide the influence some investors are needing. Jim Paulsen, investment strategist at Wells Capital Management, said “We’re going to have another 200,000-plus payroll number if ADP is any indication, and unit labor costs should stay low. Put those two together and you have real growth without inflation. That’s a recipe for a melt-up in the stock market.”
At 12:25 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,211.30 Up $8.80
- Silver, $16.43 Down $0.07
- Platinum, $1,228.90 Up $9.40
- Palladium, $799.00 Down $4.80
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.
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
