Is Silver Undervalued?
Cassie Bastien
3/14/2017 10:27:03 AM
Daily Gold & Silver Market Report – 03/10/2017
In comparison to ancient times, modern-day Silver prices are ridiculously low. Dominic Frisby with SilverSeek.com compares the salary wages of medieval workers to those of construction workers today and his results are surprising, saying that of course “wages have risen, but not by this much relative to the cost of living, status and so on within a society.” Frisby says Silver prices obviously won't mirror historical times, but recommends owning at least some gray metal just in case.
Platinum is Also Pressured by U.S. Dollar
Along with other Precious Metals, Platinum prices have been affected by the anticipated interest rate hike by the Federal Reserve scheduled for next week. Leia Toovey with EconomicCalendar.com said, “This is dampening demand for non-yielding assets and increasing the value of the U.S. dollar. In turn, the higher U.S. dollar is decreasing demand for dollar-denominated commodities,” such as the Precious Metals industry. Toovey reported the World Platinum Investment Council “sees Platinum investment shrinking by 50 percent this year, jewelry demand 1 percent lower while automotive demand is expected to hold steady.” Although demand from the automotive sector is expected to remain steady, there are concerns that political uncertainty in Europe could disrupt the demand for Platinum.
- Platinum futures for April delivery were recently down about 1.5 percent at $938.12 an ounce.
- Platinum supplies are taking a hit as South Africa’s reserves become depleted.
At 10:13 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,204.40 Up $7.70
- Silver, $17.15 Up $0.22
- Platinum, $941.60 Up $9.90
- Palladium, $754.00 Up $17.90
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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
