Geopolitical Risks Boost Gold Demand
Cassie Bastien
11/20/2017 2:34:49 PM
Daily Gold & Silver Market Report – 11/20/2017
As Citi analysts reported Monday, “Elections and political votes, military attacks and macroeconomic crises [are] some of the key geopolitical events likely to influence investment into Gold” and other Precious Metals, CNBC Reporter Sam Meredith said. While there was no set pattern for Gold price performance, Gold prices rallied more frequently during periods of global uncertainty. Citi analysts believe Gold prices are on track to hit $1,270 per ounce by the end of 2018. Price charts show Gold dropped 0.2 percent Monday to $1,290 an ounce. Overall, however, the yellow metal is up 12 percent since the start of 2017.
Silver Bullion, Down but Not Out
Physical Silver investment has seen a significant decline in 2018, though reports show the overall volume is still higher than it was prior to the 2008 U.S. Housing and Banking Crash. And while investors appear frustrated, some predict Silver bar and Silver coin demand is projected to double 2007 levels, according to SilverSeek.com Editor Steve St. Angelo. Silver and other Precious Metals have taken a backseat to alternatives such as cryptocurrencies. However, St. Angelo said, “Precious Metals will still be one the best stores of value in the future as global oil production peaks and declines.”
At 3:34 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,279.40 Down $15.60
- Silver, $16.99 Down $0.47
- Platinum, $925.90 Down $29.70
- Palladium, $991.40 Down $5.50
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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
