Daily Gold & Silver Market Report – 3/30/2015

Paul Stevens

3/30/2015 11:02:00 AM

METALS LOSE GROUND AS U.S. STOCKS REBOUND

Precious Metal prices are lower during morning trading hours after gaining most of last week. As the U.S. dollar gains, pressure mounts on metals, with many investors believing the U.S. Federal Reserve will raise interest rates this year.  However, as geopolitical tensions continue in the Middle East, many analysts believe Gold could see another rally. HSBC analysts said, “Gold historically rallies during bouts of rising geopolitical tensions, but these gains tend to be very fast moving and can be easily given back once the market shifts its focus away from the issues.  However, for the time being, Gold is likely to remain sensitive to Middle East developments.”

U.S. stocks are on the rise Monday as investors speculate on more Chinese stimulus based on weekend comments by the People’s Bank of China governor Zhou Xiaochuan.  “Sounds like what sparked some of the rally was easing and things in China,” Charles Schwab managing director of trading and derivatives Randy Frederick said. China, the world’s second largest economy, needs to be cautious about deflation concerns.

At 12:00 p.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,187.30 Down $15.80
• Silver, $16.75 Down $0.40
• Platinum, $1,118.40 Down $23.26
• Palladium, $731.00 Down $12.10

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