Precious Metals Market Reports
GOLD DROPS ON STRONG JOB REPORT
Gold fell nearly 1 percent after the U.S. employment report showed the unemployment rate dropped to 5.5 percent, marking the fifth weekly decline as the dollar rose near an 11-year high. However, markets believe a strong U.S. jobs report could spur the Federal Reserve to raise interest rates, which would boost the dollar and in turn hurt demand for Precious Metals. The dollar is a major factor in U.S. oil prices. “Given... Read More
Daily Gold & Silver Market Report – 3/5/2015
GOLD FLAT AHEAD OF ECB NEWS, U.S. JOBLESS CLAIMS While the European Central Bank has held interest rates at record lows, it is expected to detail its 1 trillion euro quantitative easing plan during today’s press conference. These details, as well as key U.S. economic data expected Friday, keep investors cautious. U.S nonfarm payrolls numbers could affect the timing of the Federal Reserve’s interest rate hikes. “ Read More
Daily Gold & Silver Market Report – 3/4/2015
U.S. DOLLAR CLIMB STRESSES GOLD, SILVER; FED COULD POSTPONE RATE HIKE The U.S. dollar reached its highest point since September 2003 due to improved U.S. government bond yields, pressuring Precious Metals. “We have quite an event-heavy end of the week, with the U.S. payrolls data on Friday and the [European Central Bank] meeting tomorrow, so we are unlikely to see much positioning ahead,” BN Amro ana... Read More
GOLD INCREASES ON SOFTER DOLLAR
Gold recovered Tuesday morning after briefly dropping below $1,200 an ounce. “Prices…seem to be forming a nice technical base in the low $1,190s,” Deutsche Boerse’s MNI senior analyst Tony Walters said. NRC Commodities analyst Andrey Kryuchenkov reiterated this statement, saying, “Gold…clearly found some support around $1,200 [per ounce] at the start of this month and people are still looking at U.S. data.” Non-farm payroll numbers and the lau... Read More
Daily Gold & Silver Market Report – 3/2/2015
METALS ON RISE AHEAD OF ECONOMIC DATA Precious Metal prices are on the move Monday morning as Gold rose to its highest level in nearly two weeks. As investors prepare for the release of important economic data this week, Gold received a boost from a surprise move out of China. The world’s second largest Gold market decided to cut interest rates, which in... Read More
Daily Gold & Silver Market Report – 2/26/2015
GOLD UP ON U.S. RATE HIKE VIEW; U.S. CONSUMER PRICES FALL Chinese buyers investing in Gold upon return from the Lunar New Year break and Federal Reserve Chair Janet Yellen indicating the U.S. Central Bank is in no hurry to raise interest rates gave Gold a one percent boost Thursday. "The combination of China returning, Yellen pushing the can further out, bond yields lower and exchange-traded produc... Read More
Daily Gold & Silver Market Report – 2/25/2015
FED POSTPONES HIKING INTEREST RATES; OIL PRICES RALLY The Federal Reserve announced Wednesday they're in no hurry to increase interest rates, which weighed on the dollar and in turn supported Precious Metals prices across the board, with Silver up more than three percent and Palladium reaching a six-week high. The Precious Metals market also welcomed back Chinese buyers following the Lunar New Year holiday, which... Read More
Daily Gold & Silver Market Report – 2/26/2015
GOLD UP ON U.S. RATE HIKE VIEW; U.S. CONSUMER PRICES FALL Chinese buyers investing in Gold upon return from the Lunar New Year break and Federal Reserve Chair Janet Yellen indicating the U.S. Central Bank is in no hurry to raise interest rates gave Gold a one percent boost Thursday. "The combination of China returning, Yellen pushing the can further out, bond yields lower and exchange-traded produc... Read More
Daily Gold & Silver Market Report – 2/23/2015
METALS FLAT AHEAD OF YELLEN TESTIMONY Precious Metal prices are relatively flat through early morning trading as Gold reached its lowest point in seven weeks. A lack a major investor buying during the Chinese Lunar New Year along with Greece’s newest agreement with eurozone finance ministers has triggered some selling as investors take on risker assets. Although metals are experiencing a small pullback, many look to Federal Reserve Chairwoman Janet Yellen’s Read More
Daily Gold & Silver Market Report – 2/20/2015
GOLD, PLATINUM GAP LARGEST IN ALMOST TWO YEARS Since Gold is generally looked at as a hedge during economic uncertainty, the price gap between Gold and Platinum is widening. At one point Friday morning, the price difference was $54, which is the highest spread between the metals since April 2013. “Gold's safe-haven credentials are much greater than Platinum's,” Capital Economics analyst Caroline Bain said. " Read More
Daily Gold & Silver Market Report – 2/19/2015
GOLD GAINS ON FED’S STANCE; U.S. JOBLESS CLAIMS FALL Gold made gains after January’s Federal Reserve policy meeting minutes showed concern for raising interest rates too soon. The minutes also revealed the struggle to shore up solid U.S. economic growth with weakness in international markets as well as continued concern regarding falling inflation expectations. "Be... Read More
Daily Gold & Silver Market Report – 2/18/2015
GOLD PRESSURED BY GREEK FINANCIAL WOES Gold fell 1.8 percent Tuesday on growing concern over Greece’s financial troubles. The Greek government will ask for an extension on its loan contract with the eurozone Thursday. “Greece remains the joker, and from looking at all markets from stocks to bonds and the euro the market firmly believes that a solution will be found despite all the current obstacles. Failure will attract buying of Gold, but for now traders ... Read More
Daily Gold & Silver Market Report – 2/13/2015
GOLD REBOUNDS ON WEAKER DOLLAR Gold is on the rise Friday due to expectations of higher U.S. interest rates and a possible deal in Greece. With weak retail sales and jobless claims, Gold is in a holding pattern. An ING Bank senior strategist said, “We are in a holding pattern between $1,150 and $1,300 [per ounce] just because there isn't enough clarity around when the [U.S. Federal Reserve] is going ... Read More
Daily Gold & Silver Market Report – 2/12/2015
GOLD UP ON WEAKER DOLLAR; U.S. ECONOMY STARTING SOFT Rebounding from a five week low, Gold rose Thursday on news of an easing dollar versus the Japanese yen with more uncertainty over Greece’s debt. The dollar rose to a three week high Wednesday against major world currencies, but fell up to one percent versus the yen Thursday due to reports that more monetary stimulus from the Bank of Japan would be counterproductive. Macquarie analyst Matthew Turner said, "T... Read More
Daily Gold & Silver Market Report – 2/11/2015
GOLD BACK ON GREEK UNCERTAINTY; U.S. HOUSING UNDERPERFORMING Gold fell back a bit Wednesday ahead of a meeting with finance ministers to deliberate Greece’s future in the eurozone. The news lifted the U.S. dollar, but worried financial markets. Natixis analyst Bernard Dahdah said, “There has been some retail demand driven by the situation in Europe from the end of December. That said, prices are flat and people are possibly not expecting a breakthrough from this we... Read More
Daily Gold & Silver Market Report – 2/10/2015
METALS DOWN AS UNCERTAINTY LOOMS Precious Metal prices struggle to gain footing in early morning trading while investors monitor the global economic atmosphere. Although metals are currently experiencing a slight decline, growing concern over Greece’s potential exit from the eurozone coupled with extreme uncertainty in the equities markets has some an... Read More
Daily Gold & Silver Market Report – 2/9/2015
METALS RISING AS GREEK FEARS MOUNT Precious Metal prices are rising in early morning trading as investors react to weekend news. After hitting its lowest point in three weeks, Gold was boosted by Chinese trade data, European economic worries and reemerging fear about Greece’s position in the eurozone. Societe Generale analyst Robin Bhar said, “ Read More
Daily Gold & Silver Market Report – 2/6/2015
GOLD SLIGHTLY DOWN AS THE UNITED STATES AWAITS JOB DATA REPORT Gold fell slightly as world leaders await results from the U.S. employment data report. A strong report would strengthen the possibility of the Federal Reserve raising interest rates, which would curb Gold’s appeal. A weak report could result in a weaker dollar, boosting bullion prices. Saxo Bank senior manager, Ole Hansen said, Read More
Daily Gold & Silver Market Report – 2/5/2015
GOLD FALLS ON UNCERTAINTY; STOCKS RALLY ON OIL Investors were left on the sidelines with uncertainty as the European Central Bank (ECB) said it will no longer accept Greek bonds for funding on Thursday. Gold fell almost one percent on the news and Athens, which is seeking debt relief from eurozone lenders, received a blow by the ECB’s announcement that low... Read More
Daily Gold & Silver Market Report – 2/4/2015
GOLD ON MOVE; THOUGHTS SPLIT ON INCREASING INTEREST RATES Gold rebounded from yesterday’s 1 percent loss after China’s central bank required banks to reduce the amount of cash on reserves to make it available for stimulating their economy. “Gold's rally this year has partly been based on this premise that central banks are losing their fight against slower growth and deflation and are having to take even more rad... Read More
Daily Gold & Silver Market Report – 2/2/2015
METALS PULL BACK AS INVESTORS CASH IN ON PROFITS Precious Metal prices are off to a slow start Monday morning after closing January with Gold’s biggest monthly rise in three years. A bleak global economic outlook has supported the metal’s safe haven demand, while the boost in price has caused some investors to begin profit taking. Societe Generale analyst Robin Bhar sai... Read More
Daily Gold & Silver Market Report – 1/30/2015
GOLD ENDS MONTH UP NEARLY 7% ON ECB UNCERTAINTY The European Central Bank has kept Gold on track for its biggest monthly gain in 1 1/2 years. The metal is starting up today, despite Thursday’s two percent drop. Gold pulled back yesterday with the expectation U.S. interest rates will increase this year. Julius Baer analyst Carsten Menke said, “We're expecting the first interest rate hike early in the fourth quarter, in October. T... Read More
Daily Gold & Silver Market Report – 1/29/2015
GOLD FALLS AS FED OUTLOOK BOOSTS DOLLAR; U.S. HOME SALES DOWN The U.S. Federal Reserve said in Wednesday’s policy statement the economy was expanding “at a solid pace,” but reiterated it would be “patient” when deciding to increase benchmark borrowing costs from zero. “There was a chance that the [Europea... Read More
Daily Gold & Silver Market Report – 1/28/2015
METALS LINGER AHEAD OF FOMC STATEMENT; OIL FUTURES REMAIN DOWN Gold and Silver are slightly pressured ahead of the Federal Open Market Committee (FOMC) statement today following the Federal Reserve’s two-day policy meeting. Policymakers are expected to reinforce their patient approach to increasing interest rates due to recent financial global economic concern. “I think it'll be mostly a non-event. The Fed will probably stick to the status quo and if that proves to be true ... Read More
Daily Gold & Silver Market Report – 1/26/2015
METALS DECLINE FOLLOWING GREEK ELECTION Precious Metal prices are slightly pulling back during morning trading hours, giving back some of the gains achieved last week. As investors continue monitoring uncertainty in the marketplace, profit-taking and Sunday’s Greek election pressured Gold and other Precious Metals. Analysts at Commerzbank said, “As we had ... Read More
Daily Gold & Silver Market Report – 1/23/2015
GOLD DECLINES FROM 5 MONTH HIGH AS ECB MOVE BOOSTS DOLLAR After Gold moved above $1,300 an ounce Thursday, the European Central Bank’s plan to put out nearly 1 trillion euros to reflate their economy has hindered the metal, due in part to the euro hitting an 11 year low against the dollar. Saxo Bank Head of Commodity Strategy Ole Hansen said, “Gold was completely disloc... Read More
Daily Gold & Silver Market Report – 1/23/2015
Gold declines from 5 month high as ECB move boosts dollar After Gold moved above $1,300 an ounce Thursday, the European Central Bank’s plan to put out nearly 1 trillion euros to reflate their economy has hindered the metal, due in part to the euro hitting an 11 year low against the dollar. Saxo Bank Head of Commodity Strategy Ole Hansen said, “Gold was completely disloc... Read More
Daily Gold & Silver Market Report – 1/22/2015
Gold Reacts to Draghi’s words; U.S. jobless claims fall Aimed at reviving the eurozone economy, the European Central Bank launched a multi-billion-euro bond-buying program Thursday, which erased Gold’s earlier losses. "Gold is reacting to what [ECB President Mario] Draghi has to say, to the bigger package that was announced and to rebounding inflation expectations in the [eurozone]," ABN Amro analyst Ge... Read More
Daily Gold & Silver Market Report – 1/21/2015
GOLD CONTINUES CLIMB; UPCOMING POLICY MEETINGS FOR ECB, FEDERAL RESERVE Gold crossed an important threshold this morning, climbing over $1,300 an ounce for the first time since August. The recent jump in Precious Metals prices comes from investors’ concern over the global economy. The market anticipates the European Central Bank (ECB) will announce a new round of quantitative easing (QE) to boost their economy at Thursday’s ECB policy meeting. “ Read More
Daily Gold & Silver Market Report - 1/19/2015
METALS FLAT AS CHINA FEELS PRESSURE Precious Metal prices are down slightly on weakening equity markets and possible stimulus from the European Central Bank. These uncertainties have some analysts curious about what the future holds. Barclays commodities analysts, led by Suki Cooper, wrote, “The key question is whether gains can be sustained,” as Gold previou... Read More
Daily Gold & Silver Market Report – 1/16/2015
GOLD GAINS AS INVESTORS DIGEST SWISS NEWS Precious Metal prices are seeing little movement during early morning trading. A day after Gold posted its biggest weekly gain and hit a four month high, investors are digesting news that the Swiss National Bank unexpectedly removed the cap on the Swiss franc. This in turn has added more volatility to an already ... Read More
Daily Gold & Silver Market Report – 1/15/2015
GOLD CLIMBS AFTER SNB ABANDONS CURRENCY CAP; UNEMPLOYMENT RATE RISING Gold jumped more than 2 percent today on shocking news the Swiss National Bank (SNB) will abandon its three-year currency cap of 1.20 francs per euro. "Gold is gaining from a risk-off situation because nobody expected the Swiss central bank not to keep that cap, and this has created potential big losses in many places and i... Read More
Daily Gold & Silver Market Report – 1/14/2015
GOLD GAINS AS WORLD BANK CUTS GLOBAL GROWTH FORECAST Precious Metal prices are relatively flat in early morning trading, giving back some of yesterday’s gains. Gold reached a 12 week high Tuesday, supported by investor concern over the slowing global economy and oil’s continued slide. However, heavy selling in... Read More
Daily Gold & Silver Market Report – 1/13/2015
GOLD HITS 12 WEEK HIGH; CRUDE OIL REACHES SIX YEAR LOW Gold continues to climb reaching its highest point since mid-October at $1,243.60 per ounce with the stock market and currencies reacting seriously to sliding crude oil prices. For the month of January, Gold has jumped five percent as the U.S. economy has become pressured with equities dipping, which has caused concern over whether the Fed will increase... Read More
Morning Gold & Silver Market Report – 12/30/2014
GOLD JUMPS 2 PERCENT; CRUDE OIL CONTINUES TO DROP Precious Metals prices received a nice boost this morning thanks to year-end buyers and, as is common toward the end of the year, short-covering. Gold rose more than 2 percent, hurdling over the $1,200 per oz price that most investors eyed as a key level. The market anticipates both Greece’s election outcome along with tensions between Russia and the west to... Read More
Morning Gold & Silver Market Report – 12/23/2014
COMMODITIES, EQUITIES REACT TO U.S. GDP Gold rebounded this morning after hitting a three-week low Monday as equities rose. Wall Street performed well Monday, closing at historic highs, which ultimately pressured Precious Metals across the board. “Positioning still seems to be light in Gold so we expect the market to remain contained during the holiday period, but big swings in other markets such as the dollar and crude will exacerbate moves due to the light liquidity,” MKS ... Read More
Morning Gold & Silver Market Report – 12/18/2014
GOLD JUMPS ON FED NEWS; U.S. ECONOMIC ACTIVITY SLOWS Gold rose over 2 percent this morning with news from the U.S. Federal Reserve regarding their plan to wait to hike interest rates for at least a few policy meetings. The assumption has already been set that interest rates would not increase until around April 2015 or later. "The Fed left themselves lots of room going forward, depending on... Read More
Morning Gold & Silver Market Report – 12/17/2014
METALS STEADY AHEAD OF FED STATEMENT After yesterday’s decline, Precious Metal prices are steadying during morning trading. With the conclusion of the last Federal Open Market Committee meeting of the year, investors await an official statement for direction. As Russia dramatically increased interest rates and pushed the ruble down more than 11 percent, concerns of a faltering global economy are resurfaci... Read More
Morning Gold & Silver Market Report – 12/15/2014
METALS DOWN AHEAD OF FED MEETING Precious Metal prices are on the decline in morning trading following a week where Gold saw a 3 percent rise. Data released Monday morning showed an increase in U.S. manufacturing output in November providing a boost to the dollar while pressuring metals. The Federal Reserve will begin their last two- day policy meeting for ... Read More
Morning Gold & Silver Market Report – 12/12/2014
GOLD SET FOR BIG WEEKLY GAIN AS STOCKS, OIL STRUGGLE Gold and Silver prices are slightly lower in early morning trading. However, even with this morning’s movement, Gold is set for its second straight week of gains and is up nearly 3 percent this week after dips in the U.S. dollar, stocks and oil prices. With Gold having its biggest weekly rise since June, some analysts are considering the yellow metal’s ne... Read More
Morning Gold & Silver Market Report – 12/11/2014
GOLD SLIDES ON ROBUST DOLLAR; LOWER OIL PRICES IMPROVE U.S. ECONOMY The price of Gold declined almost 1 percent today after reaching a seven-week high due to optimistic U.S. economic data, which boosted the dollar. The job market appears to be on track for recovery with fewer new claims for unemployment benefits being reported last week and consumer spending increasing in November. "The market's focus is on the 'considerable time' language, whether the Fed w... Read More
Morning Gold & Silver Market Report – 12/10/2014
METALS GAINING AS GLOBAL ECONOMIC FEARS RESURFACE Gold and Silver prices are relatively flat during morning trade hours. A day after Gold rallied to its highest point in over a month, investors are still awaiting direction. With Greece planning on holding its presidential election two months ahead of schedule and news Chinese authorities took ... Read More
Morning Gold & Silver Market Report – 12/9/2014
GOLD CLIMBS ON PESSIMISTIC FED NEWS; SHILLER EXPLAINS OVERVALUATION OF EQUITIES This morning, Gold reached its highest point since late October thanks to Atlanta Federal Reserve President Dennis Lockhart’s comments yesterday that he’s in no hurry to raise interest rates. The news pulled the U.S. dollar back to its largest one-day drop since April versus the Japanese yen. "It's a combination of dollar weakne... Read More
Morning Gold & Silver Market Report – 12/8/2014
METALS GAINING AS STOCKS PULL BACK Precious Metal prices are on the rise during morning trading, regaining some of the losses suffered after the release of the U.S. non-farm payrolls report. Gold lost 1.1 percent Friday, but the yellow metal is gaining as a European equities fall provided support. Although the market has recently experienced much volatility, some analysts believe investors are already consi... Read More
Morning Gold & Silver Market Report – 12/5/2014
U.S. PAYROLL DATA SUPRISES AS METALS RETREAT Precious Metal prices are on the move and experiencing a pullback during morning trading. The much anticipated release of the U.S. payroll report has provided pressure to metals as the report showed an increase in jobs by 321,000 in November, which was well beyond the expectation of 235,000 jobs being added. However, with the physical market having very high d... Read More
Morning Gold & Silver Market Report – 12/4/2014
GOLD MOVES AHEAD OF ECB MEETING; U.S. UNEMPLOYMENT CLAIMS FALL Gold slightly moved back during early morning trading ahead of the European Central Bank (ECB) meeting due to an expected announcement for further fiscal policy as the euro has been performing poorly compared to the U.S. dollar. The U.S. dollar has soared to a two-year high, while the euro dropped to less than $1.23 for the first time in over two years today. "Generally European easing has played... Read More
Morning Gold & Silver Market Report – 12/3/2014
METALS RANGEBOUND AS INVESTORS AWAIT KEY DATA Precious Metal prices are trading relatively flat through morning trading after seeing volatility command the market the two prior sessions. As investors prepare for the release of key economic data on U.S. markets and an announcement by European Central Bank head, Mario Draghi, firmer oil prices are helping provide a... Read More
Morning Gold & Silver Market Report – 12/2/2014
GOLD BREAKS WITH STRONGER DOLLAR; OIL PRICES CONTINUE TO FALL A solid U.S. dollar pressured Precious Metals this morning as oil prices continue to decline, indicating a boost in the economy. “There is extremely chopping trading going in the year end ... concerns over the impact of lower prices on inflation and what lower inflation does to a central bank's policy are driving factors at the moment,” BofA Merrill Ly... Read More
Morning Gold & Silver Market Report – 12/01/2014
METALS SURGE AS OIL REACHES FIVE YEAR LOW Precious Metal prices are on the move through early morning trading as investors return from the holiday weekend. Although Gold posted a two percent loss early this morning after Switzerland’s citizens voted against the referendum that would require the country to boost its Gold reserves to 20 percent, prices have rebound... Read More
Morning Gold & Silver Market Report – 11/26/2014
METALS GAINING AS JOBS DATA DISAPPOINTS Gold and Silver prices are gaining in morning trading. The U.S. dollar gained Tuesday as investors around the world consider that the European Central Bank may provide more stimulus to the region. Although this has applied some pressure to metals, physical demand has helped support prices. Speaking on the two contradictory factors, Thorsten Proettel, analyst at German bank... Read More
Morning Gold & Silver Market Report – 11/25/2014
GOLD SLOWLY CLIMBS PAST $1,200; OPEC TO VOTE ON FUTURE OIL PRODUCTION Precious Metals prices are up slightly this morning as the Swiss plan to vote Sunday on the Swiss National Bank holding a minimum 20 percent of its assets in Gold versus the 8 percent held last month. Bullish investors believe a ‘yes’ vote could support Gold prices in the future, but opinion polls show some voters are still und... Read More
Morning Gold & Silver Market Report – 11/24/2014
GOLD HOLDS ONTO GAINS AS EURO STRENGTHENS Gold and Silver prices are hovering and holding onto gains received Friday. Although some feel Gold has had a lackluster year, recent news out of China and Europe have sparked recent gains and optimism for the future. Julian Jessop, head of commodities research at Capital Economics, wrote, “Gold remains out of favor with Wes... Read More
Morning Gold & Silver Market Report – 11/21/2014
GOLD RISES AS CHINA SHOCKS MARKETS, CUTS INTEREST RATES Precious Metals prices are rallying and picking up strength in early morning trading. News that China cut its benchmark interest rates surprised the markets and boosted Gold, helping the metal rally to a three week high. China is the world’s biggest Gold consumer and the surprise interest rate cut spurred expectations that demand for the yellow metal could ... Read More
Morning Gold & Silver Market Report – 11/20/2014
GOLD REMAINS FLAT; U.S. UNEMPLOYMENT CLAIMS FALL Gold is flat this morning after yesterday’s price drop quickly recovered thanks to bullish buyers. The U.S. Federal Reserve’s October policy meeting minutes were released Wednesday and reflected the likelihood of increased interest rates in 2015. “After a big price drop in a small time, you get a return in Chinese demand, and that's what we've seen,” Natixis... Read More
Morning Gold & Silver Market Report – 11/19/2014
METALS RISING AHEAD OF FED MINUTES Precious Metal prices are bouncing in early morning trading as Gold holds near $1,200. Yesterday, Gold reached its highest point since October 30th, but saw a slight dip today as investors prepare for the release of the Federal Reserve minutes later today and an opinion poll in Switzerland ahead of their Gold referendum scheduled for next week. LBBW analyst Thorsten Proettel said, “What we've seen is a bit of short c... Read More
Morning Gold & Silver Market Report – 11/18/2014
GOLD RISES ON WEAK DOLLAR; OPEC TO VOTE NEXT WEEK Gold reached a 2-1/2 week high today due to a weaker U.S. dollar. "We are seeing a corrective bounce, but it looks like we have already done quite a lot from the $1,130 [per ounce] lows a couple of weeks ago," Societe Generale analyst Robin Bhar said. German economic sentiment rose in November for the first time in the last year, supporting the eu... Read More
Morning Gold & Silver Market Report – 11/17/2014
METALS REMAIN STEADY AS JAPAN SLIPS INTO RECESSION Precious Metal prices start the week holding near two week highs during morning trading hours. Economic data showing Japan's economy has slipped into a recession has given the metals a boost; however a strong U.S. dollar held the metals in check. Macquarie analyst Matthew Turner said, "Friday... Read More
Morning Gold & Silver Market Report – 11/14/2014
METALS FEEL PRESSURE AS DOLLAR CONTINUES GAINS Precious Metal prices are on the decline in early morning trading. As the U.S. dollar hit a seven year high against the yen, Gold is feeling the pressure. However, the recent price drop hasn’t been completely negative for metals, as lower prices typically call for higher demand. Afshin Nabavi, head of trading at MKS, said, “There is some pressure that seems to be dollar related … Read More
Morning Gold & Silver Market Report – 11/13/2014
GOLD SLIGHTLY SUPPORTED BY HIGH UNEMPLOYMENT CLAIMS Gold and Silver are slowly climbing this morning due to a softer U.S. dollar after European stocks were 0.4 percent higher and weaker than expected economic data was released. According to the Labor Department today, jobless claims were higher than expected with a reported 290,000 claims for state unemployment benefits for the week ending November 8th. Although the market does not seem to have high rates of... Read More
Morning Gold & Silver Market Report – 11/12/2014
METALS FLAT AS INVESTORS DIGEST UBS REPORT After showing small signs of life Tuesday, Precious Metal prices remain steady Wednesday. As the U.S. dollar approaches a four year high, investors are digesting news that a Swiss regulator’s investigation into Precious Metals and Forex trading at UBS uncovered a “clear attempt” to control metals benchmarks. Commerzbank an... Read More
Morning Gold & Silver Market Report – 11/11/2014
METALS PRICES MAKE MINOR MOVES; FED INTEREST RATES TOO LOW A stronger U.S. dollar and rising stocks reflected in the Gold price this morning, as the yellow metal fell slightly. Increased physical demand is also helping Gold. “Retail demand is very strong since prices came off,” Heraeus trader Alexander Zumpfe said. “Overall, physical demand is lending some support – Asia is also showing steady buying interest, th... Read More
Morning Gold & Silver Market Report – 11/10/2014
METALS CONTINUE FIGHT AS WEAK JOBS DATA CONTINUES TO WEIGH ON DOLLAR Precious Metal prices are down during morning trading hours giving back some of their recent gains from Friday when they rebounded from 4-1/2 year lows. Friday’s less than stellar payrolls report missed investor expectations giving metals a slight boost, but many are still concerned with the... Read More
Closing Gold & Silver Market Report – 11/7/2014
WEAK U.S. JOBS DATA RAISES GOLD, STOCKS After a harsh week, Precious Metals prices were lifted following lower than expected U.S. jobs figures for October. The news pressured the U.S. dollar, as investors continued to take profit on the greenback after its month-long rally. “After we've had such a big selloff, some speculators are covering their shorts after the worse-than-expected nonfarm number. I think that's ... Read More
Closing Gold & Silver Market Report – 11/6/2014
METALS REMAIN STABLE; INVESTORS ANTICIPATE FRIDAY’S NONFARM PAYROLL Precious Metals prices remained flat throughout trading on Thursday after the U.S. dollar dipped from profit-taking. "We're holding steady today but nobody wants to make a big move ahead of the employment numbers tomorrow morning. If there's a positive number, they (the bears) may take a run at it," Paul Sacks, principal go... Read More
Closing Gold & Silver Market Report – 11/5/2014
METALS CONTINUE TO DECLINE AS OIL GETS BOOST Precious Metal prices continued to decline Wednesday, reaching their lowest point since mid-2010. A day after U.S. mid-term elections, the dollar soared, hitting a four and a half year high while providing tremendous pressure to metals. When asked his thoughts on Gold and the future of metals, Credit Suisse analyst Karim ... Read More
Closing Gold & Silver Market Report – 11/4/2014
METALS CONTINUE FIGHT AS OIL AFFECTS ENERGY SHARES Precious Metal prices declined most of the day before getting a slight boost to finish in the green and snap a four-day decline. A dip in the U.S. dollar along with reports of internal tensions within the European Central Bank (ECB) have helped metals rebound from four-year lows. With Gold reaching the key level of $1,180 per ounce, many analysts expect demand t... Read More
Weekly Gold & Silver Market Recap – 10/31/2014
METALS AWAIT DIRECTION AHEAD OF FED MEETING The week began with speculation on what might occur during the Federal Reserve’s two-day policy meeting that began on Tuesday, along with a week of important economic data releases. Precious Metal prices received a nice boost Monday morning ending three consecutive days of losses from recovering physical demand. Precious metals strategist at Mitsubishi Corp International Johnathan Butler said, “Although this is clearly a bearish de... Read More
Morning Gold & Silver Market Report – 10/31/2014
BANK OF JAPAN SHOCKS MARKETS, PRESSURES METALS Precious Metal prices are continuing their decline in early morning trading, with Gold and Silver reaching four year lows. New data released showing an improved U.S. economy, along with a new round of quantitative easing by the Bank of Japan, has provided additional pressure to metals while boosting the dollar and marke... Read More
Closing Gold & Silver Market Report – 10/30/2014
GOLD DOWN AS U.S. DOLLAR RISES AND MARKET REACTS TO FEDS QE CONCLUSION Gold hit nearly a four week low today after the market had time to digest yesterday’s news that the Fed is ending its QE program. As expected, U.S. data was released today showing strong third quarter economic growth figures, which lifted the U.S. dollar and pressured Gold. "The feeling was that given the turmoil markets had s... Read More
Morning Gold & Silver Market Report – 10/30/2014
METALS CONTINUE FALL ON FED’S DOVISH STANCE Precious Metal prices are moving rapidly and trading lower through morning trading. Since Wednesday’s announcement was made by the U.S. Federal Reserve to officially end the stimulus program that has provided support the economy, metals prices have been retreating. However, even with today’s losses some analyst are positive about the direction of Gold and believe the Read More
Closing Gold & Silver Market Report – 10/29/2014
FEDERAL RESERVE ENDS QE, PRESSURES COMMODITIES The market reacted to the Federal Reserve announcing the end of its quantitative easing (QE) program, which consisted of monthly bond buying to stimulate the U.S. economy. Stocks fell, bonds sold off and Precious Metals were pressured lower after the news broke from the Fed’s policy meeting. Investors also noticed a more aggressive tone toward raising interest rates ... Read More
Morning Gold & Silver Market Report – 10/29/2014
SPECULATION DRIVES METALS AHEAD OF FED STATEMENT Precious Metal prices are off to a stagnant start in early morning trading. As the two-day U.S. Federal Reserve meeting comes to a close, investors expect an announcement on the end of quantitative easing (QE). However, not everyone is confident in the Fed’s decision to stop its bond-buying stimulus program. Investment broker Peter Schiff told CNBC in an interview, “ Read More
Closing Gold & Silver Market Report – 10/28/2014
METALS CONTINUE TO SHOW STRENGTH AHEAD OF FED STATEMENT Precious Metal prices are continuing to show strength and prices push upward through afternoon trading. As investor prepare for the statement at the end of the two-day Federal Reserve meeting, soft U.S. consumer spending data has provided pressure to the U.S. dollar while giving the metals a boost. George... Read More
Morning Gold & Silver Market Report – 10/28/2014
GOLD LIFTED BY WEAK DOLLAR; HOUSING MARKET FUTURE UNKNOWN Precious Metals reacted positively to data from the U.S. Commerce Department showing durable goods orders fell 1.3 percent last month. The news pressured the U.S. dollar, which assisted Gold as it regained nearly four percent this month on global growth concerns. The Federal Reserve begins its two day Federal Open Market Committee meeting today and is expected to announce the conclusion of its monthly bond-buying prog... Read More
Closing Gold & Silver Market Report – 10/27/2014
GOLD DROPS AS ETP ASSETS DECLINE TO FIVE-YEAR LOW Holdings in exchange traded products (ETP) backed by Gold fell to their lowest level in five years. The metal’s 30-day historical volatility has climbed this month, shaking many investors out of the market. Investors continue to try and predict when the U.S. Federal Reser... Read More
Morning Gold & Silver Market Report – 10/27/2014
METALS AWAIT DIRECTION AHEAD OF FED MEETING Precious Metal prices saw a slight boost Monday morning ending three consecutive days of losses. As investors prepare for a week of important economic data releases, the two-day Federal Reserve policy meeting, which begins Tuesday, will be closely watched. Societe Generale analyst Robin Bhar said, “The Fed obviously has a mandate domestically on inflation and growth, but Read More
Weekly Gold & Silver Market Recap – 10/24/2014
ANOTHER WEEK OF TRYING TO PREDICT FUTURE FED ACTIONS This week, Gold and Silver gave back a small portion of their recent gains. Last week’s negative global economic news boosted prices on expectations that the Fed would delay interest rate hikes. The markets continue to focus on what the Fed may or may not do and this week the sentiment turned to sooner rather than later [interest rate hikes]. All it took was a jobs... Read More
Morning Gold & Silver Market Report – 10/24/2014
METALS MOVE UP AS FUTURES, OIL DROP Precious Metal prices are rising in early morning trading. Although Gold has gained for two straight weeks, a stronger U.S. dollar along with better than expected economic data have put a damper on the yellow metal’s safe-haven appeal. Macquarie analyst Matthew Turner said, “A better run of U.S. data has calmed nerves about the w... Read More
Morning Gold & Silver Market Report – 10/23/2014
PRECIOUS METALS AFFECTED BY STRONG EUROZONE DATA; U.S. JOB MARKET REFLECTS SOLID FIGURES Gold is down this morning due to better-than-expected business activity in the eurozone. When the news broke it lifted stock markets from early lows, which pressured the yellow metal. Additional pressure is being felt this morning from a stronger U.S. dollar, which reached its highest point in a week. Platinum p... Read More
Closing Gold & Silver Market Report – 10/22/2014
METALS, STOCKS FALL AFTER SHOOTING AT CANADIAN PARLIAMENT Gold and Silver came down modestly from recent six week highs while the Dow was off 153 points on news coming out of Canada. A military guard died from gunshot wounds after an attack at the National War Memorial in Ottawa, followed by multiple rounds reportedly fired at the adjacent Parliament building. This exacerbated concerns about Canadian terrorist at... Read More
Morning Gold & Silver Market Report – 10/22/2014
METALS DOWN AS CONSUMERS DIGEST DATA Precious Metal prices are lower in early morning trading. Although Gold is coming off a six week high, softened physical demand along with a slightly higher U.S. dollar provide some pressure to metals. However, with investors still concerned about a slowing global economy and news from China showing third quarter growth was the ... Read More
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.
