Weekly Market Reports

Stock Prices Tumble Following Tariff Threats

Daily Gold & Silver Market Report – 5/6/2019

  • President Donald Trump threatened more Chinese tariffs, shaking markets.
  • Precious Metals prices dip across the board early Monday. 
  • Many investors brace for a potentially volatile financial week.

After several weeks of vague but positive remarks about U.S.-China trade talks, President Trump once again threatened new tariff’s against China, alarming investors. These intimidating remarks toward Beijing sent stock prices downward, leading many to predict a volatile day on Wall Street. The New York Times reports shares in China took the worst plunge, falling as much as 6 percent at one point. Asian markets were also down overall. Trading in France and Germany also dipped, but to a lesser degree, about 2 percent. When stock prices take a nosedive, Gold and Silver prices often benefit as Precious Metals have long been considered a crucial safe-haven asset.

In recent months, Chinese and U.S. leaders repeatedly made statements that trade talks were ongoing but heading in a positive direction for both nations. The economy in China is a vital driver of the economy throughout Asia. Trump's remarks Sunday were mostly unexpected and raised nervousness around the globe. China’s Shanghai Composite Index declined 5.6 percent. The price of Gold has yet to get a boost from this instability, moving mostly downward during Monday’s early trading.

Precious Metals Investors Brace for Unsteady Week

On Friday, the U.S. released a stellar jobs report, sending spot and futures prices for Gold up. This data defied expectations that the U.S. dollar would rise, as opposed to Precious Metals. President Trump's threats to leverage tariff’s against China sent stocks down but did not give Gold general support. observes this action has led to “much uncertainty on the direction for the yellow metal.” Several more significant events could lead to more unrest for Precious Metals prices later this week.

The Reserve Bank of Australia begins a policy meeting Tuesday, with monetary policy minutes from the European Central Bank expected Wednesday. March industrial production numbers for Germany are also scheduled for release Wednesday. Platinum and Palladium investors could find key takeaways within this report regarding the future of automobile manufacturing. On Thursday, U.S. Federal Reserve Chair Jerome Powell is scheduled to speak, with U.K. GDP reports expected to round out the week Friday.

At 10:20 a.m. (ET), the APMEX Gold and Silver spot prices were:

  • Gold, $1,281.60 Down $1.20
  • Silver, $14.95 Down $0.11
  • Platinum, $868.20 Down $6.60
  • Palladium, $1,340.00 Down $30.00

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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