Weekly Market Reports

Gold Hits Two-Week Lows

As the U.S. dollar experiences a bounce-back, Gold prices sank to two-week lows Wednesday. Following remarks from U.S. Trade Representative Robert Lighthizer, many investors lost hope of a fast resolution to trade disputes between the U.S. and China. In a report from Reuters India, Gold futures fell 0.5 percent to $1,322.40 per ounce during early trading, their lowest since February 15. The dollar meanwhile gained 0.2 percent as it once again gained support as a short-term, safe-haven asset. When U.S. currency value increases, Gold becomes more costly to buyers using other currencies.

Rep. Lighthizer stated current issues with China were too serious to be brushed away by a promise from China to buy more goods from the United States. One metals executive is quoted in the article noting recent Federal Reserve statements about remaining patient with interest rate hikes should give some confidence to Gold investors that prices will continue to go up. Aside from current downward movement, Gold has gone up around 15 percent since hitting a low point last August.

Market Sentiment Remains Bullish for Silver

While the price of Silver took a small hit Tuesday, some analysts continue to forecast a bullish future for the Precious Metal. In an article for FX Empire, Colin First suggests the market has encountered “a bit of [an] issue around the $16 level.” He believes these pullbacks will continue but market sentiment will remain bullish overall. Long term, he predicts Silver will rise toward the $17 level. First also cautions Precious Metals like Silver will remain sensitive to the U.S. dollar in general, as volatility remains a constant.

At 2:09 p.m. (ET), the APMEX Gold and Silver spot prices were:

  • Gold, $1,321.00 Down $8.00
  • Silver, $15.80 Down $0.17
  • Platinum, $870.40 Up $8.00
  • Palladium, $1,524.50 Down $40.20

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.

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Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for Gold, Silver, Platinum and Palladium on our Spot Price Charts page.

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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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