Morning Gold & Silver Market Report – 12/10/2014
Paul Stevens
12/10/2014 9:41:00 AM
METALS GAINING AS GLOBAL ECONOMIC FEARS RESURFACE
Gold and Silver prices are relatively flat during morning trade hours. A day after Gold rallied to its highest point in over a month, investors are still awaiting direction. With Greece planning on holding its presidential election two months ahead of schedule and news Chinese authorities took steps to tighten lending regulations, fears of a failing global economy are resurfacing. Edward Meir of INTL FCStone explains recent volatility should raise concerns, while boosting Gold, saying, “A currency run in a particular country, a ‘credit event,’ or as in the case of the Russians, the increased likelihood of capital controls being imposed on the economy. Whatever the reason, Gold should do better in this type of environment.”
U.S. stocks are declining Wednesday as oil prices continue to slump. The falling prices are having an effect on the struggling energy sector, concerning investors as the year comes to an end. Eric Weigand, senior portfolio manager at the Private Client Reserve of U.S. Bank in New York, said, “Energy is such a broad sector and yet the group as a whole has captured the imagination of investors by its overall weakness.”
At 10:41 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,235.10 Up $0.10
- Silver, $17.20 Up $0.02
- Platinum, $1,248.60 Down $0.20
- Palladium, $818.60 Up $7.00
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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
