Daily Gold & Silver Market Report – 4/10/2015
Jennifer Carter
4/10/2015 8:39:18 AM
GOLD UP, STILL PRESSURED BY DOLLAR
Gold climbed 0.7 percent to $1,203.10 an ounce Friday morning despite heading for a fall on a stronger dollar and expectations the U.S. will see an interest rate hike this year. “We saw a technical move this morning that pushed prices above $1,200... but if we see some selling into the rally perhaps we can come back down again,” Mitsubishi Corp strategist Jonathan Butler said. Investors tend to shun Gold, which doesn't pay interest, when market expectations point to rising U.S. interest rates.
Oil is heading toward a $57 per barrel weekly gain due to easing concerns from Iran. “The latest agreement with Iran does not open the floodgates for a significant return of Iranian oil on the market as many had feared,” BNP Paribas head of commodity markets strategy and oil strategy Tchilinguirian said. There are still factors pointing to a lower overall price in oil.
At 9:35 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,211.50 Up $15.100
- Silver, $16.64 Up $0.37
- Platinum, $1,177.80 Down $19.30
- Palladium, $764.40 Up $14.80
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
