Daily Gold & Silver Market Report – 6/15/2015
Paul Stevens
6/15/2015 12:44:00 PM
GOLD GAINS ON GROWING GREEK DEBT CONCERN
Precious Metal prices are gaining Monday as investors prepare for the results of the U.S. Federal Reserve policy meeting, held June 16 and 17. Many speculate the Fed will offer a more definitive time frame for its first interest rate hike in a nearly a decade. However, Greece’s debt situation is still on the forefront of many investors’ minds. Sharps Pixley CEO Ross Norman said, “The market is still looking for some kind of momentum to be created and it's not responding, notwithstanding the fact we have some pretty epic decisions to be made: interest rates and Greece.”
Stocks around the world are falling on continued worries about Greece’s debt crisis. Greek Prime Minister Alexis Tsipras will hold an emergency midday meeting to discuss talks between Greece and its creditors that fell apart over the weekend. Former Greek Prime Minister George Papandreou told CNBC Friday, “It seems again very close to the brink of a disaster and it will be a real sin (if talks fail).”
At 1:42 P.M. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,189.50 Up $7.30
- Silver, $16.22 Up $0.28
- Platinum, $1,089.20 Down $8.40
- Palladium, $735.80 $4.40
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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
