GOLD PRICES CONTINUE TO CLIMB
Cassie Bastien
1/17/2018 9:51:07 AM
Daily Gold & Silver Market Report – 01/17/2018
News editor Rachel Koning Beals with MarketWatch says the price of Gold, “which returned to levels last seen in mid-September in recent trading sessions, last week tallied a fifth week of consecutive gains, the longest such stretch since April. Month to date, the metal has climbed roughly 2 percent.” Additionally, the U.S. dollar was flat against the euro, hitting a three-year low near $1.22 Monday as traders shifted attention from the Federal Reserve to the European Central Bank, according to market analysts. In fact, Craig Erlam, senior market analyst with Oanda, said, “The dollar has been in free fall in recent days…as traders question whether the Federal Reserve will continue to hike interest rates at the current pace.” Gold bullion value is highly sensitive to rising rates and market analysts and investors say if the Fed raises interest rates as they did in 2017, it could be negative for Gold prices.
Platinum Pricing 2018 Forecast
Highly resistant to tarnishing and very popular within the jewelry market, Platinum is a Precious Metal closely watched by investors. Sadly, Platinum prices have not been performing to the best of their abilities in recent market news. In fact, Ross Norman with Hard Assets said, “Jewelry demand has fallen four years in a row and the outlook in the auto sector from diesel engines is not promising. With total demand in decline and the market set to move to a supply surplus in 2018,” bullish investors are set to see ongoing pressure on the price of Platinum.
At 10:50 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,338.30 Down $0.90
- Silver, $17.20 Down $0.06
- Platinum, $1,009.60 Up $5.70
- Palladium, $1,107.10 Up $10.90
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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
