Morning Gold & Silver Market Report – 12/17/2014
Paul Stevens
12/17/2014 1:52:40 PM
METALS STEADY AHEAD OF FED STATEMENT
After yesterday’s decline, Precious Metal prices are steadying during morning trading. With the conclusion of the last Federal Open Market Committee meeting of the year, investors await an official statement for direction. As Russia dramatically increased interest rates and pushed the ruble down more than 11 percent, concerns of a faltering global economy are resurfacing. Natixis analyst Bernard Dahdah said, “The Gold market will be closely following what the Fed says. That will dictate the price for the next few days. We'll be looking at whether they move into a more data-dependent decision-making process in terms of the speed at which they will take things.”
Stocks around the world are struggling Wednesday as investor portfolios continue feeling pressure from falling oil prices. This combined with disinflation in the west is causing a rippling effect and is concerning world markets. JP Morgan global market strategist Nikolaos Panigirtzoglou said, “The decline in oil prices is the biggest factor here. It is a problem for policymakers and a problem for the world because it creates disinflation. No market is immune ... and until markets find an equilibrium for oil prices we are going to have a lot of volatility.”
At 2:51 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,196.10 Down $0.20
- Silver, $15.91 Up $0.11
- Platinum, $1,197.10 Down $0.80
- Palladium, $778.40 Down $5.60
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
