Daily Gold & Silver Market Report – 3/16/2015
Paul Stevens
3/16/2015 11:05:00 AM
METALS STRONG AHEAD OF WEDNESDAY FED STATEMENT
Shaking off recent losses, Precious Metal prices are on the rise as investors prepare for the U.S. Federal Reserve’s statement Wednesday. Gold has been pressured with the continued rise of the U.S. dollar, but some analysts believe a dollar correction is on the way as disinflation becomes a concern. BK Asset Management managing director of FX strategy Kathy Lien said, “I am long-term bullish dollars, but I think the Fed is going to put the brakes on the dollar next week. The speed and velocity of the recent moves brings back the risk of disinflation.”
European stocks received a boost Monday, as German stocks rose to record highs. The recent move by the European Central Bank (ECB) to begin a new quantitative easing (QE) program boosted the region as it rebounds from a 12 year low. Spreadex financial analyst Connor Campbell said, “As the steroid injection of ECB QE continues to swell the [German stock index] DAX, as well as the other [eurozone] indices, investors remain enthralled with the region and seem committed to continuing its upswing.”
At 12:05 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,155.40 Down $0.20
- Silver, $15.70 Up $0.12
- Platinum, $1,109.70 Down $8.50
- Palladium, $782.40 Down $7.40
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
