Weekly Market Reports

Tariff Deadline Change Boosts Gold

Daily Gold & Silver Market Report – 2/25/2019

  • Optimistic news regarding U.S.-China tariff talks boosts Gold spot prices.
  • Palladium hits record high price. 
  • Silver markets once again show signs of a bullish turnaround.

The price of Gold got a boost Monday morning after news of productive trade negotiations between the U.S. and China. President Donald Trump said he would delay the tariff hike longer than initially stated in hopes of making a mutually beneficial deal. At 9:30 a.m. (ET), the spot price of Gold reached $1,334.63 per ounce before losing some steam. Gold futures declined early Monday, according to a Reuters report. The trade news softened the U.S. dollar value but share prices did go up in response to the indications of progress. Analyst Julius Baer said, “The risk sentiment in the equity market is pretty positive against the backdrop of the U.S.-China trade talk news and some support from the Chinese government, which is negative for Gold. ... At the same time, we see the dollar is a tad lower, which is providing a bit of support to Gold prices.”

Palladium prices hit a record high of $1,526.60 per ounce early Monday. This win equates to a rise of more than 80 percent since August of last year, driven by increased demand from automakers and a shortage of supply. Recent news of South Africa’s power grid issue has led to concerns that the world supply of Palladium may become even tighter.

Investor Skepticism Adding Support to Market

Murmurs of skepticism over the short-term health of the stock market and beyond have led to unpredictability in recent months. In an analysis published by Seeking Alpha, Clif Droke writes the plunge in stock market prices last year was likely a panic response rather than a move to a bear market. He also points out investors are still interested in safe-haven assets, such as Gold, rather than equities. Droke writes, “With so much skepticism over the stock market’s short term and intermediate-term prospects, investors have a reason for believing that the bulls will retain control of the trend." He believes “the evidence suggests that assets such as Gold, treasuries, and even cryptocurrencies, are commanding the collective attention of retail investors instead of equities.”

More Bullish Signals for Silver Markets

On Friday, Silver markets rallied once again, showing further indication of a turnaround. During international trading Monday, the spot price of Silver hit $16.07 per ounce at 1:20 a.m. (ET) and stayed near that price for several hours. An FX Empire report published by Yahoo! Finance observes multiple weekly wins for Silver, moving alongside Gold prices. The article predicts the U.S. dollar will continue to fall long term, which will provide additional support for Silver and other Precious Metals.

At 12:41 p.m. (ET), the APMEX Gold and Silver spot prices were:

  • Gold, $1,328.40 Down $4.70
  • Silver, $15.95 Down $0.09
  • Platinum, $855.90 Up $8.00
  • Palladium, $1,532.40 Up $31.20

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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.

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