Daily Gold & Silver Market Report 4/24/2015
Jennifer Carter
4/24/2015 8:48:00 AM
GOLD STUMBLES AS STOCKS HOLD STEADY
Gold is down for the third consecutive week on strong global equities and the timing of a suspected U.S. interest rate increase. Spot Gold was down 0.3 percent to $1,190.55 an ounce, while U.S. Gold futures for June delivery were down $4.30 an ounce. “The news this week in general has been Gold-friendly - weaker dollar, weaker U.S. data and Middle East tensions,” Saxo Bank analyst Ole Hansen said. “But it has failed to ignite, leaving the metal range bound for now.”
Friday’s boom in equities is due to the Nasdaq boasting an all-time record on the euro’s retreat against the dollar, negotiations between Greece and its creditors, and weak jobs reports. Thursday, the Nasdaq rose above its previous record from March 2000, the height of the dotcom boom. Weak reports on U.S. jobless claims, manufacturing output and new home sales contrasted with market performance and reignited doubts about the timing of a U.S. interest rate hike.
At 8:48 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,189.90 Down $7.50
- Silver, $15.86 Down $0.08
- Platinum, $1,130.40 Down $7.30
- Palladium, $774.50 Up $2.60
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
