Precious Metals Struggle for Attention in Bull Market

APMEX

7/6/2018 11:06:46 AM

Daily Gold & Silver Market Report – 07/06/2018

Shares in Gold mining and Silver mining have continued to suffer from a lack of attention by mainstream investors in the current bull market. As noted in a report from Seeking Alpha, many world investors seem convinced the current bull economy in the U.S., now nine years running, will lead to unlimited asset growth. Economists point out, however, that all bull markets eventually change and 2018 has provided significant evidence that a bear market may be imminent. This change could mean increased interest in safe-haven investments, like Precious Metals.

The report goes on to observe several recent events as possible signals that the current economy may be reaching its peak growth, including a historic top for the S&P 500 in January, diminishing high numbers in the U.S. equity exchanges and a flattening U.S. Treasury curve. Another significant signal in the report is a recent change by corporate insiders to avoid buying with an increased eagerness to sell.

Gold Prices Hold Steady

This week, Gold prices remained in a stable range following the U.S. Federal Reserve policy meeting for June. In a report published by Economic Times, the Federal Open Market Committee minutes noted gradual increases in the target range for the federal funds rate could mean even more expansion in the economy. Base metals, such as Copper and zinc, fell this week with seven straight days of decline. With more talk of tariffs from the U.S. and China, crude oil prices also dipped.

Amid Falling Prices, Platinum Gains Appeal

Platinum currently sits at the lowest price the market has seen in almost 10 years, which could lead to increased demand from Asian automakers. Investors searching for bargains are increasingly interested in the prospects of Platinum, which has a broad assortment of industrial uses when compared to Gold. As pointed out in an article published by Barron’s, Platinum historically trades  at prices that exceed both Gold and Palladium. If investors purchase Platinum at these record-low prices, economists point out that a return to market norms could mean a big win.

At 11:47 a.m. (ET), the APMEX Gold and Silver spot prices were:

• Gold, $1,255.90 Down $4.00
• Silver, $16.07 Down $0.07
• Platinum, $845.20 Up $3.80
• Palladium, $954.60 Up $3.90

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