Daily Gold & Silver Market Report – 3/18/2015
Paul Stevens
3/18/2015 10:47:00 AM
METALS FLAT AS INVESTORS AWAIT FED STATEMENT
Precious Metal prices are relatively flat in early morning trading as investors prepare for the U.S. Federal Reserve’s highly anticipated statement Wednesday. With Gold hovering around four month lows, many analysts speculate the removal of the word “patient” from the Fed’s policy statement will hint toward a rate hike in June. However, not everyone is sold on the dollar’s strength. Abu Dhabi’s ADS Securities chief market strategist Nour Al-Hammoury said, “On the other hand, if the Fed decides to put off a decision and stays ‘patient’ or changes its guidance to ‘responsive,’ this would be a green light for equities to soar across the board along with Gold and the major currencies, as the U.S. dollar rally pauses.”
As central banks around the world continue attempting economic stimulation by easing monetary policies, and with oil continuing to struggle, U.S. stocks are falling ahead of the Fed’s afternoon statement. Wells Capital Management chief investment officer Jim Paulsen said, “I think the (stock) market is going to have trouble with interest rates the rest of the year. … Oil might be pressuring things a little bit. There's a lot in there for the market to be very volatile today.”
At 11:46 am. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,152.90 Up $1.30
- Silver, $15.63 Down $0.05
- Platinum, $1,092.10 Down $4.60
- Palladium, $763.50 Down $0.60
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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
