Weekly Market Reports

Gold Declines as U.S. Dollar Builds Strength

Daily Gold & Silver Market Report – 3/27/2019

  • Stronger U.S. dollar sends Gold prices downward.
  • More bullish signals from Silver markets. 
  • Palladium prices fall, testing support for prices at $1,500.

Spot prices and Gold futures dipped Wednesday morning, pushed down by new U.S. dollar strength. The Precious Metal was held back from further losses due to increased demand for safe-haven assets around the globe. As reported by MarketWatch, Gold futures for April delivery on Comex were down $3.70, or 0.3 percent, at $1,311.30 per ounce. June Gold also fell 0.3 percent.

When interest rates are low, investors turn to Gold, which does not offer a yield. Rising dollar strength can be a challenge, as dollar-denominated Gold becomes more expensive to buyers with other currencies. Other events impacting Gold prices include the ongoing U.S.-China trade negotiations, as many economists hope to see a resolution reached within the next few weeks. The results have the potential of increasing or decreasing the risk appetite on Wall Street, depending whether investors view the deal as beneficial to the United States.

Silver Shows Signs of Bullish Resiliency

After months of low trading, Silver markets continue showing signs of resiliency. Silver bullion spot prices have exceeded the critical $16 per ounce mark several times in recent weeks, setting up a bullish trend that aims to move even higher. In a price forecast from FX Empire published on Yahoo! Finance, Christopher Lewis writes, “If we can break above the couple of shooting stars from both Thursday and Friday, then the market goes looking for the $16.00 level.” However, Lewis goes on to caution too much optimism, noting, “On the other hand, if the market can break out above those candlesticks, that should send Silver much higher. If the U.S. dollar becomes softer in the coming months, it could send Silver and other Precious Metals on a steady upward path.

Palladium Prices Decline, Test $1,500 Support

For the second-consecutive day, Palladium prices are falling. This downward slide tests the Precious Metal’s support at $1,500 per ounce. According to FX Empire, XPD/USD is keeping levels above $1,500 for now, but the short movement seems significant and market watchers are expecting more declines. Analysts Mauricio Carrillo writes, “Below the mentioned 1,500 level, traders will find stop losses triggers that will push the pair deeper.” Palladium is down from a peak of $1,602.20 on March 21.

At 12:08 p.m. (ET), the APMEX Gold and Silver spot prices were:

  • Gold, $1,313.30 Down $4.70
  • Silver, $15.38 Down $0.13
  • Platinum, $859.50 Down $3.30
  • Palladium, $1,464.00 Down $85.90

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.

« Return to Commentaries

World Market Trading Hours

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.

NYMEX Markets
8:20 a.m.-1:30 p.m. (ET)
8:25 a.m.-1:25 p.m. (ET)
8:20 a.m.-1:05 p.m. (ET)
8:30 a.m.-1:00 p.m. (ET)
CME Globex
World Markets
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)
6:00 p.m.-5:00 p.m. (ET)

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.

 (0)

There are no items in the cart.