Daily Gold & Silver Market Report – 7/10/2015
Jennifer Carter
7/10/2015 9:19:00 AM
GOLD RISES ON FALLING DOLLAR
Gold rose slightly Friday, up 0.2 percent, as the euro gained on the dollar. Greece’s effort to get funding for their debt halted Gold’s four-month low. Prices touched $1,146.75 per ounce Wednesday, their lowest since March 18 when the dollar benefited from weakness in the euro and a drop in Chinese stock markets. "Gold is getting some support from the stronger euro but if we get a deal with Greece on Sunday, it should be bearish for Gold because it removes any risk," Societe Generale analyst Robin Bhar said.
Federal Reserve Chair Janet Yellen will speak Friday on the U. S. economic outlook. "No doubt, Gold has been a profound disappointment for the bulls over the past few months ...to see repeated rallies fizzle," INTL FCStone analyst Edward Meir wrote. Physical metal stalled this week as China looked for deals in the equities market and India delayed purchasing. Silver, Platinum and Palladium all rose slightly, with Platinum rebounding from a 6 1/2 year low hit Wednesday.
At 9.18 A.M. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,162.60 Up $0.00
- Silver, $15.54 Up $0.07
- Platinum, $1,033.30 Up $9.90
- Palladium, $656.80 Up $16.80
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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
