Daily Gold & Silver Market Report – 11/18/2015
Brandi Brundidge
11/18/2015 9:26:00 AM
INVESTORS ALERT AHEAD OF FED MINUTE RELEASE
Precious Metals across the board have recently fallen over concerns the Federal Reserve will increase interest rates in December for the first time in nearly a decade. The market is awaiting minutes from the latest Fed meeting, which might provide some direction as to future plans. Due to the pressure on Precious Metals this year, Gold is at a five-year low, Silver is at a 2 1/2-month low and Platinum is just above a seven-year low. "Overall, financial markets are more or less positioned that the Fed will hike this year, and the general trend for Precious Metals is on the downside," ABN Amro analyst Georgette Boele said.
Federal Reserve Bank of Atlanta President Dennis Lockhart spoke at a banking conference Wednesday, confirming he believes the market has stabilized since August; therefore it makes sense for the Fed to move forward with hiking rates soon. "I am now reasonably satisfied the situation has settled down... So I am comfortable with moving off zero soon, conditioned on no marked deterioration in economic conditions," Lockhart told the conference of bankers, traders and regulators. Lockhart confirmed he will closely watch economic data until the next policy meeting on December 15-16 to assist with the Fed’s next move.
At 10:25 A.M. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,070.80 Down $1.30
- Silver, $14.18 Down $0.11
- Platinum, $852.00 Down $3.00
- Palladium, $544.10 Down $3.40
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
