Daily Gold & Silver Marker Report – 8/25/2015

Paul Stevens

8/25/2015 9:50:43 AM

METALS CONTINUE DECLINE AS CHINA CUTS RATES AGAIN

Precious Metal prices are on the decline during morning trading hours as investors return to the markets. Stock markets around the world saw a large decline Monday and, in a move to stimulate their economy, on Tuesday, China cut interest rates for the second time in two months.  However, even with these developments, an expected interest rate hike from the Federal Reserve continues to weigh on metals. Standard Chartered analyst Nicholas Snowden said, “We're still in an environment where we know U.S. interest rates will go up. For Gold, that limits how much of a bid you will see, even with the sort of financial market turmoil that ensued yesterday.”

As Chinese stocks decline and send shockwaves around the world, China’s central bank cut interest rates and lowered bank reserve thresholds for the second time in a two-month span. Many investors fear what is down the line as the Chinese central bank said in a statement, “Currently, there is still downward pressure on China's economic growth.”

At 10:48 A.M. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,139.20 Down $17.40
• Silver, $14.74 Down $0.14
• Platinum, $979.60 Down $12.90
• Palladium, $540.10 Down $37.90

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