Daily Gold & Silver Market Report – 1/14/2015

Paul Stevens

1/14/2015 8:39:00 AM

GOLD GAINS AS WORLD BANK CUTS GLOBAL GROWTH FORECAST

Precious Metal prices are relatively flat in early morning trading, giving back some of yesterday’s gains. Gold reached a 12 week high Tuesday, supported by investor concern over the slowing global economy and oil’s continued slide.  However,  heavy selling in the commodities sector has put a slight damper on Gold’s rally.  Although commodities have seen recent struggles, some investors are more concerned with the continued market volatility.  Grace Trading portfolio manager Chad Gassaway said, “While volatility has given opportunities to shorter time frame traders, investors have struggled over the longer term. Such an increase in volatility is concerning at minimum.”

Commodity and financial markets around the world took a hit Wednesday as the World Bank cut its growth forecast for 2015 and 2016.  Growing concern over anemic economies that continue to struggle and the growing threat of deflation are dominating trader action.  Christian Gattiker, chief strategist and head of research at Bank Julius Baer, said, “These growth fears are keeping markets busy, and it is linked with the deflation question.  We do have the stress in financial market because it's about the solvency and liquidity of oil producers.”

At 9:38 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,241.30 Up $4.90
• Silver, $17.00 Down $0.21
• Platinum, $1,243.70 Down $3.90
• Palladium, $796.60 Down $20.10

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