Daily Gold & Silver Market Report 4/20/2015

Paul Stevens

4/20/2015 12:07:00 PM

METALS FALL AS DOLLAR GETS BOOST FROM CHINA

Precious Metals are on the decline Monday during morning trading hours.  As investors take in news there will be a new round of stimulus to boost the Chinese economy, the U.S. dollar is gaining strength while pressuring metals. LibertyView Capital Management president Rick Meckler said, “What's helped the market today is the story about more stimulus in China.” The Chinese central bank reduced the amount of cash banks must hold in reserve, hoping to spur Chinese lending and support a slowing economy. 

Although U.S. stocks and world equities have seen recent gains, some believe there is a correction on the way. As the U.S. Federal Reserve ended its quantitative easing program last year, recent focus has been on earnings reports and their effect on the economy. Many analysts are beginning to question what is on the horizon. BTIG chief global strategist Dan Greenhaus told CNBC’s Squawk Box, “When you have [a]situation where stocks are fairly highly priced, earnings momentum has slowed, central bank policy has shifted from accommodative to potentially less accommodative … you have an environment where you've shifted from favorable for stock prices to less favorable for stock prices.”

At 1:06 p.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,196.00 Down $9.90
• Silver, $15.97 Down $0.37
• Platinum, $1,149.90 Down $18.60
• Palladium, $771.80 Down $13.20

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