Precious Metals Know How to Take a Punch
Cassie Bastien
7/20/2017 2:45:56 PM
Daily Gold & Silver Market Report – 07/20/2017
As the U.S. dollar weakens and physical demand strengthens, many investors are waiting for Precious Metals to jump. The Street Real Money Reporter David Williams, Jr. says as fall season, spot prices are setting up for a positive finish to the year. Both U.S. and geopolitical events contribute to a potential surge in the commodity currencies. An interesting development has been the resurgence of the crypto-currency market. However, questions remain as to how long that will continue and if a crash is inevitable. Nonetheless, Williams says, “What is clear is that many forms of alternatives to the dollar are showing signs of strength in the marketplace.”
Gold Prices Drop Ahead of ECB Meeting
Money Control reports the European Central Bank (ECB) is “expected to lay the groundwork for an autumn policy shift when it meets” Thursday, as investors expects clues regarding the outlook for its stimulus program. ANZ research said in a note, “Investors remained cautious heading into (Thursday's) ECB meeting, where there are expectations of a more hawkish stance.” According to reporters Nithin Prasad and Arpan Varghese, “The euro held near a 14-month high against the U.S. dollar on Thursday ahead of the ECB gathering.” Gold prices will remain positive as long as U.S. dollar weakness persists, said ICBC Standard Bank Tokyo Branch Manager Yuichi Ikemizu says. Ikemizu said he doesn’t see spot Gold prices going any lower than $1,200 an ounce with people being less bearish.
At 3:46 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,246.00 Up $1.00
- Silver, $16.41 Down $0.01
- Platinum, $930.00 Up $4.80
- Palladium, $853.20 Down $12.90
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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
