Daily Gold & Silver Market Report 4/15/2015
Brandi Brundidge
4/15/2015 12:39:00 PM
GOLD UP ON LOWER DOLLAR; RIGHT TIME TO HIKE INTEREST RATES
Gold climbed Wednesday after the U.S. dollar fell against other major currencies. “The dollar's retreat is mainly due to the weak U.S. economic data ...as long as we have weak economic figures out of the U.S., it is less likely that the [U.S. Federal Reserve] will start raising interest rates sooner rather than later,” Commerzbank analyst Daniel Briesemann said. The market will eye the Federal Open Market Committee’s next meeting April 28 for a signal regarding an interest rate increase.
St. Louis Fed President James Bullard believes the Federal Reserve should think twice about raising interest rates too soon. His reasoning is if the unemployment rate drops below 4 percent like he has forecast, it is typically followed by some sort of large market growth. “Now may be a good time to begin normalizing U.S. monetary policy so that it is set appropriately for an improving economy over the next two years,” Bullard said, adding that “even with some normalization, monetary policy will remain exceptionally accommodative.”
At 1:40 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,204.60 Up $9.20
- Silver, $16.41 Up $0.15
- Platinum, $1,164.00 Up $9.30
- Palladium, $774.50 Up $10.00
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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
