Daily Gold & Silver Market Report – 10/12/2015

Paul Stevens

10/12/2015 11:23:00 AM

METALS CONTINUE RISE AS DOLLAR TESTS RECENT LOWS

After seeing price increases last week, Precious Metals are continuing to gain during Monday morning trading hours. Investors are speculating, based on recent economic data, the Federal Reserve will not raise interest rates until next year, which has boosted metals and helped Gold reached its highest level since July. Some analysts believe prices could continue rising and Gold could test its recent ceiling of $1,183 per ounce.  Bill McNamara, a technical analyst at Charles Stanley, said, “It’s not inconceivable that the price could run up to that level at some point during the next couple of weeks.”

As the U.S. dollar declines Monday morning toward three-week lows, stocks in Europe and Asia are on the rise. Although a global economic slowdown is affecting investors’ mindset, the fact that investors have lost trust in central banks may become a bigger issue. Carmignac managing director and member of the investment committee Didier Saint-Georges said, “This global economic slowdown would be less of an issue if it was not being made worse by deflationary pressures and did not occur at a time when confidence in central banks' ability to provide an effective solution is starting to be questionable.”

At 12:22 P.M. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,166.00 Up $7.10
• Silver, $15.98 Up $0.08
• Platinum, $993.40 Up $12.00
• Palladium, $695.10 Down $14.10

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