Gold Spot Prices Drop
Cassie Bastien
9/12/2017 3:02:29 PM
Daily Gold & Silver Market Report – 09/12/2017
The price of Gold fell to its lowest in more than a week Tuesday as easing concerns over North Korea's nuclear ambitions and the impact of Hurricane Irma lowered the safe-haven demand for all Precious Metals while the U.S. dollar strengthened. Reporter Jan Harvey with Reuters said, “World equities hit record highs for a second straight day as investors opted for nominally higher-risk assets.” And while we did witness a fairly big increase in prices, the rally for Gold and Silver prices was limited especially when these volatile moments calm down, according to Natixis Analyst Bernard Dahdah. ANZ said in a note, “Hurricane Irma also caused less damage than originally feared. The market is likely to turn its attention to the [U.S. Federal Reserve], with speakers now in blackout mode ahead of its policy meeting next week.”
- Among other Precious Metals, Platinum was down 0.4 percent while Palladium was 1.6 percent higher.
Stocks Are on the Rise
Helped by a generally upbeat global market and many investors awaiting the new iPhone launch, stocks saw some positive gains during Tuesday's openings. Alan R. Elliott with Investors.com said, “The Dow Jones industrial average, the Nasdaq Composite and the S&P 500 all blipped 0.2 percent higher at the starting bell — enough to send the S&P 500 to a new record high above 2491.” Many investors are now turning their attention toward riskier assets with recent hurricanes in Texas and Florida, as well as the tension surrounding North Korea fizzling away.
At 4:01 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,333.80 Down $0.20
- Silver, $17.97 Up $0.04
- Platinum, $991.90 Down $6.90
- Palladium, $957.40 Up $18.70
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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
