Weekly Market Reports

Gold Prices Up as Safe-Haven Buying Gains Momentum

Daily Gold & Silver Market Report – 3/25/2019

  • Growing demand for safe-haven assets boosts Gold prices.
  • Spot Silver climbs to $15.64 per troy ounce. 
  • Chicago Fed President Charles Evans and other key leaders will speak this week.

The price of Gold was up Monday morning as more buyers turned to safe-haven assets, including Precious Metals. Growing worries over a potential recession have challenged the U.S. dollar and contributed to widespread concerns of a shrinking global economy. At 10:20 a.m. (ET), spot Gold reached $1324.43 per troy ounce. CNBC reported equity markets hit a 12-day low following an expansion of global recession worries driven by an inversion in the U.S. bond yield curve late last week. Silver spot prices climbed to $15.64 per ounce while Palladium traded at $1569.62 per troy ounce.

Gold rose Monday as investors flocked toward safe-haven assets on recession concerns added to an increasingly bleak picture on global growth. Gold bullion has risen more than 13 percent since hitting a low last August. Dovish Federal Reserve monetary policy has contributed to Gold’s rise. Analysts at Commerzbank told CNBC, “Speculative financial investors are also likely to continue betting on rising Gold prices having already stepped up their net long positions ... this further paves the way for Gold as it continues on its upswing.”

Key Fed Leaders Scheduled to Speak this Week

As market watchers hold tight during a two-week extension of the Brexit deadline, several other key events will occur for this week. Monday, Chicago Fed President Charles Evans, Philadelphia Fed President Patrick Harker and Boston Fed President Eric Rosengren are scheduled to make public statements. Evans and Harker also have speeches planned for Tuesday, along with San Francisco Fed President Mary Daly, according to Thursday, Fed Governor Randal Quarles, Fed Governor Michelle Bowman, Fed Vice Chair Richard Clarida and St. Louis Fed President James Bullard all have public speeches planned.

U.S. monetary policy often has a direct impact on Gold prices, as interest rate schedules influence the appeal of non-yielding assets like Gold. Outside of the United States, the Reserve Bank of New Zealand will publicize its benchmark interest rate on Wednesday, outlining factors that impact the current monetary policy practices. European Central Bank President Mario Draghi is also scheduled to give remarks mid-week.

At 4:27 p.m. (ET), the APMEX Gold and Silver spot prices were:

  • Gold, $1,324.90 Up $9.70
  • Silver, $15.63 Up $0.14
  • Platinum, $862.70 Up $9.80
  • Palladium, $1,575.60 Up $26.10

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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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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