Daily Gold & Silver Market Report–1/11/2016

Paul Stevens

1/11/2016 11:47:00 AM

INVESTORS ON EDGE AS OIL STAYS AROUND 12-YEAR LOW

Gold and Silver prices are relatively flat during Monday morning trading hours as investors return from the weekend.  Although the U.S. dollar saw a small rebound against other major currencies, growing geopolitical tensions in the Middle East and concern over China’s continued economic struggles have some analysts believing Gold prices should be higher.  Societe Generale analyst Robin Bhar said, “Gold should be a lot higher, you've got all the China concerns, the Middle East tensions...clearly there is a lot of overhead selling, which is capping the price.”

After seeing their worst yearly start ever, U.S. stocks saw a minimal increase Monday as global stocks continued to be shaky.  Global investor fear continues as oil prices hover around 12-year lows and global economic growth continues to slow.  Although U.S. markets increased today, China and oil will continue to be major factors.  Andre Bakhos, managing director at Janlyn Capital LLC in Bernardsville, New Jersey, said, “A relief rally would be expected at some point during the recent precipitous fall.”  He warned however, of “escalating concerns over the issues such as China and falling oil prices that have plagued the market all of last year.”

At 12:47 P.M. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,102.20 Up $1.30
• Silver, $14.06 Up $0.06
• Platinum, $847.20 Down $31.50
• Palladium, $475.70 Down $18.90

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.