Daily Gold & Silver Market Report – 7/27/2015
Paul Stevens
7/27/2015 11:23:00 AM
METALS GAIN AS CHINESE STOCKS STRUGGLES
Precious Metals are gaining in early morning trading as Gold holds above the recent 5 1/2 year low. The Chinese stock market also experienced its biggest one-day loss since 2007. This news, along with investors continuing to focus on the U.S. interest rate, has continued pressuring metals. Traders will look at the results from the two-day Federal Reserve policy meeting later this week for direction. Societe Generale analyst Robin Bhar said, “Gold was doing OK for a while today but that didn't last very long as sentiment is pretty much overwhelmingly one-sided.”
U.S. stocks are set to begin the week on a decline as investors show concern over a slowing global economy. Last week, numbers showing a mixed second quarter helped the S&P 500 and Nasdaq post their largest weekly losses since March. Andy Sullivan, a portfolio manager with Swiss investment firm GL Financial Group said, “This really has its roots in nervousness that began in the U.S. at the end of last week.”
At 12:22 P.M. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,099.00 Up $10.20
- Silver, $14.75 Up $0.14
- Platinum, $985.80 Up $4.10
- Palladium, $622.50 Down $3.10
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
