Morning Gold & Silver Market Report – 12/8/2014

Paul Stevens

12/8/2014 11:11:00 AM

METALS GAINING AS STOCKS PULL BACK

Precious Metal prices are on the rise during morning trading, regaining some of the losses suffered after the release of the U.S. non-farm payrolls report. Gold lost 1.1 percent Friday, but the yellow metal is gaining as a European equities fall provided support.  Although the market has recently experienced much volatility, some analysts believe investors are already considering an interest rate increase by the Federal Reserve in 2015. INTL FCStone analyst Edward Meir said, “We suspect that Gold will likely be at its most vulnerable over next three to six months, which is when we see the highest likelihood of a rate hike that should sweep the dollar higher.”

U.S. stocks pulled back Monday on data showing slower than expected Chinese imports, while Japan’s economy shrank in the third quarter more than expected. This coupled with oil prices dropping to the lowest point in five years has investors concerned about global growth. Rockwell Global Capital Chief Market Economist Peter Cardillo said, “While the weakness in the global economy is quite noticeable, in general what we are seeing here is a slower pace of increments as we close out the year.”

At 12:09 p.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,196.20 Up $2.80
• Silver, $16.31 Up $0.01
• Platinum, $1,232.70 Up $11.20
• Palladium, $798.10 Down $4.60

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