Daily Gold & Silver Market Report – 3/20/2015
Chris Boswell
3/20/2015 10:01:00 AM
GOLD, STOCKS BOOSTED ON SLIGHTLY LOWER DOLLAR
Gold is at a two-week high Friday following one of the worst weeks for the U.S. dollar against the euro. This change of pace comes after a four month low due to pressure from expectation the U.S. central bank was on track for its first interest rate hike in nearly a decade. “For the short term, Gold has had a stay of execution,” Mitsubishi analyst Jonathan Butler said. “With yields on Treasuries coming off a bit in the last few days, the environment is relatively benign for Gold to make some gains over the next three or four weeks.” Gold was at $1,172.20 an ounce, up 0.1 percent, while U.S. Gold futures for April were up $2.20 an ounce at $1,171.20. Spot prices have risen 1 percent, snapping two weeks of losses.
U.S. stocks had a strong open Friday, due in part to Greece’s reassurance to its European Union creditors that could help avoid a cash crunch. This comes after a one day pullback following the U.S. Federal Reserve’s statements caused a stronger dollar to weigh on oil and other commodity prices. Despite the more dovish than expected statement, the Fed opened the door for a rate hike as early as June.
At 10:02 am. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,180.70 Up $8.40
- Silver, $16.49 Up $0.28
- Platinum, $1,133.50 Up $10.90
- Palladium, $779.20 Up $11.40
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
