Silver Continues Its Slide

Wayne Lin

7/13/2018 9:35:51 AM

Daily Gold & Silver Market Report – 07/13/2018

On June 14, Silver reached $17.43 per ounce but it has been a steady downhill slide since. “The recovery of the dollar, more hawkish monetary policy, and trade issues that have caused bearish price action on other Precious Metals have taken the spotlight off the typically volatile Silver market” (Seeking Alpha).  Silver has posed a risk to investors because of the commodities market, but that may not necessarily be a bad sign in the coming weeks. There is still much in the coming days that could affect the price of Silver, including ongoing tariff wars, which could play a larger role for spot prices and commodities as a whole. While the world watches what happens with that, the U.S. dollar is experiencing a recovery that may not last long, as trends suggest a recovery is short lived.

Gold Prices Retreat

Gold prices continued their retreat and are “on track to book its lowest settlement in about a year” (MarketWatch). The popular yellow metal has been victim to a stronger dollar and continued trade wars between the U.S. and China do not help the Gold price. There has been little support from global trading and, as the U.S. and China war over tariffs and other embargoes continues, Gold prices could maintain stagnancy. This could spell the right time for investors to jump in on the popular yellow metal. In the meantime, the dollar remains strong, which is a good signal for investors.

At 10:31 a.m. (ET), the APMEX Gold and Silver spot prices were:

• Gold, $1,244.80 Down $4.00
• Silver, $15.88 Down $0.16
• Platinum, $830.30 Down $16.10
• Palladium, $943.40 Down $13.40

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (ET)! Or call us Fridays until 6 p.m. (ET)! If you have any questions about Precious Metals investing or simply would prefer to place your order by telephone, we are here to help.