Daily Gold & Silver Market Report – 1/25/2016

Paul Stevens

1/25/2016 12:10:00 PM

METALS GAIN AS INVESTORS PREPARE FOR FED MEETING

Precious Metal prices are gaining Monday morning as investors return from the weekend. The dollar is down slightly, boosting metals two days before the next Federal Open Market Committee meeting.  Many analysts are concerned about the pace at which the Federal Reserve will continue to raise benchmark interest rates, which could bode well for Gold.  Hong Kong's Wing Fung Financial Group Head of Research Mark To said, “Given the turbulence in financial markets, the Fed might not be able to hike interest rates too many times in 2016.  If Gold can stay above $1,100 [per ounce] in the coming days, it may signal a further rebound, maybe even to $1,200 in the coming months.”

Stock markets around the world are trying to gain footing as the outlook on the global economy continues to weigh on markets. Oil prices continued to fall Monday, pressuring markets around the world.  Commerzbank strategist Thu Lan Nguyen said “ We cannot sound the all clear, there is clearly a lot of uncertainty out there.  The main theme this morning is of commodity currencies being under pressure. A lot depends on the oil price. If we see a sharp drop back to the levels we saw last week, we can see another round of the market nerves we have been seeing.”

At 1:07 P.M. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,108.30 Up $9.80
• Silver, $14.32 Up $0.20
• Platinum, $862.80 Up $30.20
• Palladium, $492.50 Down $8.40

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