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Weekly Market Reports

Gold Gets a Lift from Stimulus Predictions

Daily Gold & Silver Market Report –7/24/2019

  • As countries signal easier monetary policy, Gold prices rise.
  • Silver sees gains in seven of last eight sessions. 
  • Declining real yields add to U.S. economy concerns.

Gold prices went up Wednesday morning as a growing number of people expect an easing of monetary policy from key central banks. Many nations around the world are likely to take action against a slowing global economy. While spot Gold and futures both rose, more significant gains were held back by a stronger U.S dollar. A Reuters report published by CNBC suggested interest in Gold remained strong, driven by predictions of interest rate cuts, escalating political tensions and less-than-favorable economic growth data.  

Many believe the European Central Bank will decide to ease monetary policy as part of its next meeting, convening Thursday. The U.S. Federal Reserve will also hold a policy meeting next week. Many analysts forecast a cut to the overnight benchmark lending rate. 

Silver Futures Hit 1-Year High

Silver futures rose significantly Thursday, reaching their highest mark in more than a year. According to MarketWatch, September Silver gained 6.5 cents per ounce to end the session at $1,421.70, a 0.4 percent rise. This is the seventh gain for Silver out of the last eight sessions. Analyst Chintan Karnani is quoted in the article, stating, “Firmness in Silver prices will draw more and more people with less amount to invest. Silver is behaving like a low price safe haven and will attract more and more retail investment.” Karnani indicated the upcoming Federal Open Market Committee policy decision and U.S. nonfarm payrolls data could factor into Silver’s next big price move. 

Falling Real Yields Signify U.S. Economy Concerns

Since late last year, yields on 10-year Treasury inflation-protected securities, also known as real yields, have fallen from a high of 1.154% to a recent low of 0.241%. This marks the narrowest return rate since November 2016, according to the Wall Street Journal. All U.S. bond yields have fallen this year, but this decline may be the most concerning to investors. Sam Goldfarb explains in the WSJ article, “Real yields are notable because they show the purchasing power investors can expect to obtain from government bonds after accounting for inflation. ... The continued decline in the 10-year TIPS yield is potentially worrisome because it is sometimes viewed as a gauge of economic growth expectations, one even more refined than the nominal yield.”

At 9:55 a.m. (ET), the APMEX Gold and Silver spot prices were:

  • Gold, $1,430.10 Up $6.30
  • Silver, $16.69 Up $0.15
  • Platinum, $876.20 Up $15.60
  • Palladium, $1,534.90 Up $8.30

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Disclaimer:
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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