Daily Gold & Silver Market Report – 3/13/2015
Jennifer Carter
3/13/2015 10:22:58 AM
GOLD UP AS STOCKS REMAIN FLAT
Gold was on track to its ninth straight session of losses, the most in 40 years. However, today it has benefited from the dollar falling against other currencies. "The softer dollar is helping Gold but that's only temporary," Societe Generale analyst Robin Bhar said. "The key event now is going to be the [U.S. Federal Reserve] meeting next Wednesday, so more clarity on the interest rates hike timing." Gold has taken losses since the U.S. jobs report came out last week, but analysts are looking toward the Fed’s next meeting March 17-18.
Stocks remain flat Friday after a week of swings, including the S&P 500 posting its biggest one-day gain since early February Thursday. These stock moves are also a reflection of the dollar’s continued gains. Wall Street has focused on when the Federal Reserve will raise interest rates, with strong economic data recently suggesting the first hike could come as early as June.
At 11:16 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,154.40 Down $0.70
- Silver, $15.58 Down $0.03
- Platinum, $1,117.10 Down $0.80
- Palladium, $791.90 Up $3.90
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
