Love for Gold Bullion Continues for Investors
Cassie Bastien
2/14/2018 11:47:29 AM
Daily Gold & Silver Market Report – 02/14/2018
The price of Gold bullion advanced for the third-straight day with help from a weakening U.S. dollar, giving Precious Metals investors and traders the positive vibes they have been looking for. Moreover, a report from Bloomberg Markets by Ranjeeth Pakiam said filings showed billionaire hedge fund manager Ray Dalio increased holdings last quarter. Reports show Gold bullion rose nearly 0.6 percent to $1,337.02 an ounce, the highest since February 6. The U.S. dollar fell Wednesday, while the yen hit a 15-month high. This month, hedge fund head Paul Tudor Jones said inflation is about to appear “with a vengeance” and may force the Federal Reserve to accelerate interest rate hikes for 2018.
Platinum Prices To Hit New Highs in 2018
After recording an oversupply of 110,000 ounces in 2017, Johnson Matthey said Wednesday Platinum prices are setting up for another surplus, according to Reuters Editor Jan Harvey. Last year, the demand for Platinum metals fell almost 7 percent including Chinese jewelry markets and the automotive industry. However, new reports for 2018 show a rise in industrial demand will likely lead to a slight increase in overall demand. Palladium was the best performer among major Precious Metals last year, surging 56 percent to post its biggest annual rise since 2010. But many investors feel that Palladium prices have hit their highest levels and Platinum will soon become the next Gold.
At 12:47 p.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,351.30 Up $20.80
- Silver, $16.90 Up $0.25
- Platinum, $1,000.40 Up $22.70
- Palladium, $1,006.00 Up $17.40
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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
