Daily Gold & Silver Market Report – 3/23/2016
Brandi Brundidge
3/23/2016 2:25:00 PM
GOLD AFFECTED BY CENTRAL BANKER VIEWS; MARKET REACTS TO TERRORISM
Gold is trending down Wednesday due to two central bankers sharing their personal opinions on when interest rates might increase, which they both forecast as April. The Federal Reserve released a statement on March 16 stating they will only increase interest rates two times in 2016, down from their assertive four times. The reasoning behind their decision included concerns over low inflation due to economic instability along with financial developments.
After Tuesday’s tragic attack in Brussels, investors were curious as to why the market failed to react in any way. CNBC’s money expert, Jim Cramer, commented on this devastating subject by saying, “These attacks have, sadly, become a kind of thing that we expect to happen. They are tragic and gut-wrenching, but are now accepted as part of the firmament.” Kathy Lien, BK Asset Management’s managing director of FX strategy, made a remark on how investors reacted to recent terrorist acts, such as the Paris attacks and the Charlie Hebdo shootings, saying, “As we saw in November and January of 2015, investors don’t allow terrorists to terrorize them for long.”
At 3:35 P.M. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,224.90 Down $25.70
- Silver, $15.32 Down $0.62
- Platinum, $957.90 Down $38.90
- Palladium, $582.90 Down $23.80
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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
