Morning Gold & Silver Market Report – 12/15/2014

Paul Stevens

12/15/2014 10:36:00 AM

METALS DOWN AHEAD OF FED MEETING

Precious Metal prices are on the decline in morning trading following a week where Gold saw a 3 percent rise.  Data released Monday morning showed an increase in U.S. manufacturing output in November providing a boost to the dollar while pressuring metals.  The Federal Reserve will begin their last two- day policy meeting for the year and many are expecting the results to give more insight into when the interest rate hike will occur.  Natixis analyst Bernard Dahdah said, “The question now is whether the Fed will drop the considerable-time language and become more dependent on the economic data, which could lead to a rate increase in June.”

U.S. stocks experienced a slight boost on Monday following the release of U.S. industry data, while the S&P 500 rebounded from its worst week in over two years.  The industrial data added some confidence to consumers as it may signal a strengthening economy, however not everyone is convinced.  Heinz-Gerd Sonnenschein, a strategist at Deutsche Postbank AG in Bonn, Germany said, “We’re getting a rebound from what remains a nervous market. We have reasons to believe that the U.S. economy is in good shape, though this week is a difficult one to call. We’re waiting for a bunch of data, as well as the Fed meeting -- the markets will probably zigzag.”    

At 11:35 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,219.20 Down $5.30
• Silver, $16.94 Down $0.16
• Platinum, $1,233.30 Down $10.20
• Palladium, $806.60 Down $9.90

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