Daily Gold & Silver Market Report – 11/23/2015

Paul Stevens

11/23/2015 11:15:00 AM

METALS SLIGHTLY LOWER AS DOLLAR GAINS

Precious Metal prices are on the decline Monday morning as Gold drops back toward its newly reached six-year low.  A robust U.S. dollar and strong speculation that interest rates will see their first increase in December have pressured metals for the last month.  Gold reached its lowest mark since February 2010 last week and some analysts believe it could continue its decline as U.S. central bankers grow more confident in an inflation rebound and employment being stable.  Natixis analyst Bernard Dahdah said, “I wouldn't be surprised to see prices fall below $1,000 [per ounce] as expectations of a rate hike affect sentiment.”

Stocks, bonds and commodities markets around the world took a hit Monday as the U.S. dollar pushed to a new seven-month high.  With European and Asian stocks struggling and oil prices continuing to remain extremely volatile, some experts are concerned with the timing of a Federal Reserve interest rate increase as other central banks are attempting to stimulate growth.  Jo Masters, a senior economist at Australia and New Zealand Bank, said, “With two of the world’s major central banks about to head on divergent policy paths, can such smooth sailing continue over the months ahead? Increased policy tension is likely to mean that volatility remains elevated.”

At 12:16 P.M. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,072.30 Down $7.50
• Silver, $14.19 Down $0.03
• Platinum, $850.10 Down $6.80
• Palladium, $543.30 Down $16.60

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