Daily Gold & Silver Market Report – 7/8/2015

Brandi Brundidge

7/8/2015 10:16:00 AM

PRECIOUS METALS REBOUND; U.S. STOCKS UNDERPERFORM

Precious Metals prices were pressured Tuesday from the financial collapse of Greece along with the possibility of the country exiting the eurozone. Today, Gold and Silver are attempting to rebound as the U.S. dollar is weak due to European shares rising. The eurozone has given Greece until the end of this week to propose an extensive reform in exchange for loans to protect the country from financial ruin. Investors are awaiting the release later Wednesday for the Federal Reserve’s June policy meeting minutes, which could offer a timeframe for when they plan to increase interest rates. 

The U.S. stock market reacted to the uncertainty surrounding the monetary issues in Greece and the substantial stock selloff from the Chinese market.  The Dow Jones opened down 150 points, S&P 500 traded down 13 points and Nasdaq traded down 35 points Wednesday morning due to alarmed investors.  "There was no real trigger until Chinese stocks became too pricey," said Nick Raich, CEO of The Earnings Scout. "The trigger that sent all of this off has been the Greece debt crisis."

At 11:17 A.M. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,163.80 Up $7.70
• Silver, $15.22 Up $0.13
• Platinum, $1,035.30 Down $7.20
• Palladium, $651.40 Down $3.00

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.