Daily Gold & Silver Market Report – 8/31/2015
Paul Stevens
8/31/2015 12:05:00 PM
METALS FLAT AS INVESTORS PREPARE FOR ECONOMIC DATA
Precious Metal prices are trading relatively flat during early afternoon trading hours Monday as investors return from the weekend. As concern grows over China’s stock market and speculation as to when the U.S. Federal Reserve will increase interest rates, many investors are eyeing economic data this week for direction. LBBW analyst Thorsten Proettel said, “People are waiting to see what's going on in China. That and the interest rate decision will be the most important factors for the Gold price over the next days and weeks.”
U.S. stocks are on the decline Monday following last week’s turbulent ride. With the energy sector struggling, China’s economy slowing and U.S. interest rate increases being considering, markets could be in for a big week. Mark Luschini, chief investment officer at Janney Montgomery Scott said that while China is a factor, “In the meantime it's more Fed-related, particularly on anticipation of this Friday's jobs report.”
At 1:04 P.M. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,136.20 Down $1.00
- Silver, $14.70 Up $0.06
- Platinum, $1011.40 Down $11.30
- Palladium, $602.80 Up $10.60
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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
