Precious Metals Market Reports
Morning Gold & Silver Market Report – 10/28/2013
GOLD STEADIES AHEAD OF MONTHLY FED MEETING The Gold price is trading relatively flat on Monday morning as Precious Metals investors speculate over the future of the Federal Reserve’s quantitative easing program. With the recent government shutdown in Washington and uninspiring economic figures fresh in the minds of Fed officials, many economists expect no deviation from the current level of stimulus following the Fed’s two-day policy meeting later this week. “The longe... Read More
Weekly Gold & Silver Market Recap – 10/25/2013
GOLD AWAITS FED’S NEXT MOVE Gold remained flat during Monday trading as investors were still unsure of the Federal Reserve’s next move regarding fiscal policy. The yellow metal jumped nearly four percent the previous week under assumptions that the Fed will not taper its $85 billion monthly bond-buying program especially after the recent government shutdown, which has hurt economic growth expectations. “At some point the Fed will have to start tapering, there is also a conse... Read More
Mid-Day Gold & Silver Market Report – 10/25/2013
GOLD RALLIES BACK TO EVEN ON WEAK CONSUMER SENTIMENT The Gold price has risen back to even levels following early losses as weak consumer sentiment data increased the appeal of Precious Metals, setting Gold up to realize a week of gains. “Bad news is a good news for gold,” Naeem Aslam, chief market analyst at AvaTrade, said. “Core durable good and consumer sentiment ... Read More
Morning Gold & Silver Market Report – 10/25/2013
GOLD HEADED FOR SECOND WEEK OF GAINS The Gold price is headed for a two percent gain on the week, even with a slight retreat from the five-week highs attained yesterday. The U.S. dollar is trading against other currencies at a nine-month low, and U.S. Treasury yields are at three-month lows. HSBC said in a note, “The recent trend in Gold and its volatile reaction to the most recent economic release show... Read More
Mid-Day Gold & Silver Market Report – 10/24/2013
SOFT DOLLAR, QE SPECULATION LIFT PRECIOUS METALS Gold is trading higher today as weakness in the U.S. dollar helped lift Precious Metals prices. “A still weak U.S. dollar – the U.S. currency has weakened against the euro to exceed the $1.38 mark for the first time in almost two years – is one major reason why the Gold price has been able to... Read More
Morning Gold & Silver Market Report – 10/24/2013
JOBLESS CLAIMS DISAPPOINT; RELIEF OVER CHINESE DATA Gold and Silver prices added to gains after the release of the weekly jobless claims report. The report showed that new claims fell by 12,000 last week, though it was far from expectations of 25,000. Economic data continues to be scrutinized closely due to the... Read More
Closing Gold & Silver Market Report – 10/23/2013
GOLD CLIMBS ON POSITIVE CHINESE ECONOMIC DATA Precious Metals prices continued their rise today with Gold futures climbing more than one percent. It is a five week high for Gold that comes on news of positive manufacturing data from China showing a seven-month high in the country’s Purchasing Managers’ Index. Naeem Aslam, chief market analyst at AvaTrade, said, “The economic recovery is getting better in the country. Read More
Mid-Day Gold & Silver Market Report – 10/23/2013
GOLD DOWN SLIGHTLY AFTER REACHING FIVE-WEEK HIGH Following a rally that pushed Gold to a five-week high on Tuesday, profit-taking has forced the yellow metal lower today. During a year that has seen Gold enter short-term bearish territory, some analysts have a positive outlook going forward as the metal is set to realize its first year of losses in m... Read More
Morning Gold & Silver Market Report – 10/23/2013
PROFIT-TAKING ENTERS MARKET AFTER RALLY Precious Metals prices are trading lower this morning as the U.S. dollar steadies. After Gold’s rally yesterday, Mitsubishi analyst Jonathan Butler said, “We may see some short-positioning coming in, and we might also see some profit-taking based on the moves of the last few days. This $1,330 level is an important technical point, and so far Gold has managed to ho... Read More
Closing Gold & Silver Market Report – 10/22/2013
GOLD, STOCKS LIFTED ON CONTINUED QE PREDICTIONS The recent government shutdown and weak jobs numbers pushed Gold higher today as investors and economists predict ongoing federal stimulus measures to continue for the foreseeable future. “The payrolls data is pushing Gold higher as investors think the economy needs more support to gain moment... Read More
Mid-Day Gold & Silver Market Report – 10/22/2013
PRECIOUS METALS GET BOOST FROM WEAK JOBS DATA The Gold price continued to rise through mid-day trading. A disappointing jobs report for September helped fuel speculation that the Federal Reserve will not begin tapering its monetary easing program in the immediate future. The news gave Gold prices a two percent boost and GoldCore’s Dub... Read More
Morning Gold & Silver Market Report – 10/22/2013
DELAYED JOBS REPORT BOOSTS GOLD, SILVER PRICES The U.S. Labor Department’s jobs report, originally due October 4, was released this morning. Economists expected an increase of 185,000 jobs in September, and the report showed a gain of 148,000, well less than expected. The unemployment rate fell slightly to 7.2 percent, which boosted stock fu... Read More
Closing Gold & Silver Market Report – 10/21/2013
GOLD AWAITS FED’S NEXT MOVE; HOUSING MARKET RECOVERY LOSING GROUND Gold remained flat on Monday as investors are still unsure of the Federal Reserve’s next move regarding fiscal policy. The yellow metal jumped nearly four percent last week with assumptions that the Fed will not taper its $85 billion monthly bond-buying program especially after the recent government shutdown, which has hurt economic growth expectations. “At some point the Fed will have to start tapering, ther... Read More
Mid-Day Gold & Silver Market Report – 10/21/2013
FED’S EVANS: TAPERING UNLIKELY IN OCTOBER, DECEMBER Gold and Silver prices were little changed in morning trading as more light was shed on the U.S. Federal Reserve’s plans for tapering its quantitative easing program. Chicago Fed president Charles Evans said it isn’t likely to happen at the meeting later this month, and may not be much more likely... Read More
Morning Gold & Silver Market Report - 10/21/2013
MARKETS STEADY AHEAD OF EMPLOYMENT NUMBERS, COPRORATE EARNINGS U.S. stock futures are trading flat to start the week as investors weigh corporate earnings data and await economic reports that were delayed by the recent government shutdown. In recent months, the most highly anticipated U.S. economic reports have been those revealing the ... Read More
Weekly Gold & Silver Market Recap - 10/18/2013
GOLD BOUNCES DURING MONDAY TRADING The week began with an unstable U.S. economy as the government headed into its second week of being partially shut down. Gold received a sharp increase during Monday trading as U.S. political leaders failed to reach a deal on the government shutdown and debt ceiling issue. The divide between Senate ... Read More
Mid-Day Gold & Silver Market Report – 10/18/2013
GLOBAL MARKETS REACT TO U.S. DEBT AGREEMENT Precious Metals are slightly lower through mid-day trading. However, even with today’s slight pullback, Gold is on track for a weekly gain of almost four percent. Michael Smith, president of T&K Futures & Options in Port St. Lucie, Florida, stated, “People want to be in equities as the most lucrative investment. Also, there is some profit-taking after [Gold’s] big rally.” With Read More
Morning Gold & Silver Market Report – 10/18/2013
EXPECTED TAPERING DELAY BULLISH FOR GOLD; SILVER COULD HIT RECORD HIGHS Expectations that the U.S. government shutdown will delay the Federal Reserve’s plans for tapering quantitative easing have the Gold price on pace for its biggest weekly gain in two months. Mitsubishi analyst Jonathan Butler explained, “Once the government re-opened and the agenda moved on from the debt crisis to next week's Federal Reserve meeting, Read More
Mid-Day Gold & Silver Market Report – 10/17/2013
GOLD RISES ON PROMISE OF MORE GOVERNMENT SPENDING The Gold price is up significantly Thursday as policymakers in Washington approved a debt ceiling arrangement that has ended the U.S. government shutdown. The last-minute deal raises the national debt ceiling and has allowed the government to avoid technical default on debt obligations. “I... Read More
Morning Gold & Silver Market Report – 10/17/2013
DEBT DEAL COULD MEAN NO TAPERING The domino effect that seems to have begun with the debt-ceiling deal is causing Precious Metals prices to rise, as quantitative easing tapering is now not expected to begin any time soon. Commerzbank analyst Daniel Briesemann said, “Tapering will be postponed much further, so that's probably the main aspect behind the current spike in prices.” Chinese rating age... Read More
Closing Gold & Silver Market Report – 10/16/2013
GOLD RECEIVES BOOST FROM WEAKENED U.S. DOLLAR Gold received some much needed support today as bipartisan leaders of the U.S. Senate agreed to a solution to resolve the fiscal impasse and raise the U.S. borrowing limit. Later today the Senate and House will vote and President Barack Obama reportedly supports the agreement. “... Read More
Mid-Day Gold & Silver Market Report – 10/16/2013
INVESTORS AWAIT POSSIBLE BUDGET DEAL TODAY Gold is trading relatively even Wednesday as investors await a possible U.S. debt ceiling resolution. “We have heard a couple of times that they were close to [reaching] an agreement but they haven't... nonetheless, investors have been generally positive on a solution happening,” Natixis analyst Bernar... Read More
Morning Gold & Silver Market Report – 10/16/2013
GOLD COULD RETURN TO SAFE-HAVEN STATUS Gold and Silver prices are trading slightly higher this morning as the U.S. government shutdown enters its 16th day. A CME Group analyst wrote, “The markets are still unsure if there is an actual movement forward or backward (on the shutdown). However, if it appears that the U.S. is likely to encounter a default, Read More
Mid-Day Gold & Silver Market Report – 10/15/2013
METALS FLAT WITH NO GOVERNMENT DEAL ON TABLE Precious Metals prices are flat through mid-day trading. Even as U.S. leaders continue to work on both a debt ceiling deal and the government shutdown, tapering of quantitative easing (QE) is still in the back of many investors’ minds. When asked for his thoughts on the government avoiding a debt default, Eric Green of TD Securities said a good outcome could “push the normalization of [monetary] policy further in t... Read More
Morning Gold & Silver Market Report – 10/15/2013
DEBT DEAL OPTIMISM HAS GOLD LOWER Optimism surrounding a possible deal to raise the debt ceiling and end the U.S. government shutdown caused the U.S. dollar to rise. In turn, Precious Metals prices have fallen, giving up yesterday’s gains. Stock futures are higher as Senate Majority Leader Harry Reid said he was “very optimistic” about reaching a ... Read More
Closing Gold & Silver Market Report – 10/14/2013
GOLD RISES WITH ECONOMIC UNCERTAINTY; U.S. DOLLAR OUTLOOK CAUSES GLOBAL CONCERN Gold moved up today as the U.S. government remains shut down and hopes of reaching an agreement by October 17 begin to deteriorate. "There has been some short-covering today … but overall, the market is expecting a U.S. debt ceiling agreement eventually and it is mostly positioning a little bit more on the short s... Read More
Mid-Day Gold & Silver Market Report – 10/14/2013
OBAMA TO MEET WITH CONGRESSIONAL LEADERS Gold and Silver prices have dropped slightly in morning trading, though both are still nearly one percent higher overall. With the debt ceiling deadline just three days away, President Barack Obama is slated to meet with majority and minority leaders from both the Senate and the House of Representatives this aftern... Read More
Morning Gold & Silver Market Report – 10/14/2013
GOLD RISES IN MORNING TRADING; DOLLAR DOWNGRADED AGAIN With political leaders in the U.S. failing to reach a deal on the government shutdown and upcoming debt ceiling issue, Gold has seen a sharp increase in this morning’s trading. The divide between Senate Democrats and Republicans continues to widen, with Democrats unwilling to agree to any deal th... Read More
Weekly Gold & Silver Market Report – 10/11/2013
WEAKER DOLLAR BOOSTS GOLD FOR EARLY GAINS On Monday, Gold benefited from a lower dollar as policymakers in Washington failed to reach a consensus on a budget bill. As the October 17 deadline for reaching the borrowing limit nears, investors and analysts await the potential for greater market volatility. The result of the budget impasse has been a partial ... Read More
Morning Gold & Silver Market Report – 10/11/2013
POSSIBLE BUDGET DEALS PRESSURE GOLD The U.S. dollar is headed for its third straight day of gains and is continuing to put pressure on the Gold price, which is headed for its second straight week of losses. This is most likely due to signs that Washington is close to reaching budget and debt ceiling deals. Michael Widmer of Bank of America Merrill Lynch said, “You had a very short-lived move higher on t... Read More
Closing Gold & Silver Market Report – 10/10/2013
DEBT CRISIS BEGINNINGTO TAKE CENTER STAGE Gold prices continued to trade lower through afternoon trading. With all eyes on Washington, U.S. stock prices moved upward today and had the second-best session of this year. Danske Bank analyst Christin Tuxen said, “Both Republicans and Democrats are starting to be a little bit more willing to find a solution and that's what is dragging Gold lower.”&#... Read More
Mid-Day Gold & Silver Market Report – 10/10/2013
REPUBLICANS OFFER DEBT CEILING INCREASE House Speaker John Boehner announced to reporters this morning that Congressional Republicans will offer a temporary resolution to the debt ceiling debate in exchange for negotiations with President Barack Obama about other fiscal issues. Democratic Senator Chuck Schumer said it was good news that Republicans “are backing off their stand that they have to at... Read More
Morning Gold & Silver Market Report – 10/10/2013
JOBLESS CLAIMS SOAR Precious Metals prices briefly rose after the release of the weekly jobless claims report, which is one of the few pieces of economic data still provided during the government shutdown. The report showed that 66,000 new claims were filed last week, which is said to be caused by processing proble... Read More
Closing Gold & Silver Market Report – 10/9/2013
METALS PRESSURED BY DOLLAR; FED MINUTES CONFIRM TAPERING CONFLICT Precious Metals were affected throughout the day as the U.S. dollar rose to a one week high. Today, President Barack Obama introduced Janet Yellen as a Federal Reserve Chairman nominee, which was a highly anticipated move that supported the U.S. dollar. The market ... Read More
Mid-Day Gold & Silver Market Report – 10/9/2013
ALL EYES ON FED MINUTE RELEASE Precious Metals prices have added to gains in morning trading, ahead of the release of the Federal Open Market Committee’s (FOMC) September policy meeting minutes, scheduled for 2 p.m. (ET). Investors hope it will provide clues as to the reasons for not going on with tapering qua... Read More
Morning Gold & Silver Market Report – 10/9/2013
OBAMA TO NOMINATE BERNANKE’S SUCCESSOR Precious Metals prices fell this morning after the U.S. dollar rose from eight-month lows. The dollar is said to be reacting to reports that President Barack Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen as current Fed Chairman Ben Bernanke’s successor, ending some uncertainty in the markets. Peter Fertig of Quantitative Commodity Research said, ... Read More
Closing Gold & Silver Market Reports – 10/8/2013
GOLD, STOCKS DOWN AS SHUTDOWN CONTINUES Though many investors remain sidelined while budget negotiations continue at a stalemate, the Gold price fell for the third time in four sessions following a modest rise in the U.S. dollar. The current impasse in Washington has forced investors away from taking new positions as futures trading was ... Read More
Mid-Day Gold & Silver Market Report – 10/8/2013
MARKETS EYE GOVERNMENT FOR DIRECTION Precious Metals continue to trade flat through mid-day trading. As the U.S. government shutdown continues into week two with no agreement in sight, many investors are beginning to take notice. Commerzbank analysts said in a note, “As there is still no sign of the dispute being resolved, market players will remain unsettled and ... Read More
Mid-Day Gold & Silver Market Reports – 10/8/2013
MARKETS EYE GOVERNMENT FOR DIRECTION Precious Metals continue to trade flat through mid-day trading. As the U.S. government shutdown continues into week two with no agreement in sight, many investors are beginning to take notice. Commerzbank analysts said in a note, “As there is still no sign of the dispute being resolved, market players will remain unsettled and ... Read More
Morning Gold & Silver Market Reports – 10/8/2013
ANALYSTS: FED COULD POSTPONE TAPERING Gold and Silver prices are trading lower this morning, possibly reacting to the uptick in U.S. stock futures. Mitsubishi analyst Jonathan Butler said, “There is a realization that as difficult and serious this budgetary situation in the United States is, eventually a solution will be found and the country won't default. There is always the outside chance that this m... Read More
Closing Gold & Silver Market Report – 10/7/2013
GOLD RISES ON WANING GOVERNMENT CONFIDENCE; CHINA SHARES CONCERN Today Gold began to react toward the government shutdown as it rose 1 percent on uncertainty that U.S. lawmakers will be able to reach an agreement. Congress has until October 17 to raise the debt limit and at this point it appears they may wait until the final moments to decide. “The longer the shutdown, the longer the issue of debt... Read More
Mid-Day Gold & Silver Market Report – 10/7/2013
BUDGET STALEMATE BOOSTING GOLD, DEPRESSING STOCKS The Gold price is up for the first time in three sessions as the U.S. budget stalemate enters a second week. Prolonged negotiations are beginning to weigh on investors as the fear that failure to reach a budget agreement could lead to a U.S. government default. “In such a climate G... Read More
Morning Gold & Silver Market Report – 10/7/2013
WEAKER DOLLAR BOOSTS GOLD FOR EARLY GAINS Gold has benefited from a lower dollar as policymakers in Washington fail to reach a consensus on a budget bill. As the October 17 deadline for reaching the borrowing limit nears, investors and analysts await the potential for greater market volatility. The result of the budget impasse has been a partial governme... Read More
Weekly Gold & Silver Market Recap – 10/4/2013
GOVERNMENT DEADLOCK ON SPENDING BILL WEIGHS ON FUTURES MARKET As the week began, the focus was toward the U.S. government who was attempting to reach an agreement to avoid a shutdown. Congress had until Monday night to pass a budget bill otherwise causing a partial government shutdown resulting in thousands of worker furloughs. “As we’ve seen in the past... Read More
Mid-Day Gold & Silver Market Report – 10/4/2013
DEBT CEILING LOOMS AS GOVERNMENT SHUTDOWN CONTINUES Precious Metals continue to trade lower through midday. With the government shutdown stretching into the fourth day, many investors are still trying to figure things out. Sharps Pixley chief executive officer Ross Norman said, “ Explaining what we call the ‘Frankenstein’ economy is kind of tough at the moment ... Read More
Morning Gold & Silver Market Report – 10/4/2013
TREASURY: NO CHANCE WE SELL GOLD TO PAY BILLS Gold and Silver prices are trading lower as the U.S. government shutdown enters day four. Recently, MarketWatch’s Brett Arends asked a U.S. Treasury spokeswoman if the U.S. would consider selling its Gold holdings to pay debt if Congress fails to raise the debt ceiling. The spokeswoman said, “Selling Gold would undercut ... Read More
Closing Gold & Silver Market Report – 10/3/2013
PRECIOUS METALS FLAT WHILE INVESTORS WAIT Precious Metals continued to trade flat through afternoon trading. Many investors see the U.S. government shutdown as short term and believe a deal will be struck between political parties. However, even with the underperformance of Gold during the shutdown, there is some belief Gold prices could see a rapid rise.... Read More
Mid-Day Gold & Silver Market Report – 10/3/2013
GOLD PARES EARLY LOSSES; STOCKS DIVE ON GOVERNMENT CLOSURE, POOR ECONOMIC DATA Gold and Silver prices are down slightly today as expectations for an end to the U.S. government closure appear to be fairly distant. While current political and economic factors would traditionally be bullish for Gold, investors and traders remain focused on the ... Read More
Morning Gold & Silver Market Report – 10/3/2013
PROFIT-TAKING BRINGS GOLD PRICE DOWN Precious Metals prices and U.S. stock futures are down this morning. Ishaq Siddiqi of ETX Capital wrote, “Traders are hoping to hear of some political compromise before the week comes to an end but as of now, are not discounting the possibility of the [U.S. government] shutdown runnin... Read More
Closing Gold & Silver Market Report – 10/2/2013
GOVERNMENT SHUTDOWN AFFECTING U.S. DOLLAR; APMEX CEO SHARE’S BULLISH BELIEFS Precious Metal prices received a boost today with Gold in particular rising more than 2 percent as the U.S. dollar continued to drop with economic uncertainty. "Clearly the dollar is not really playing that much of a safe-haven role through this latest episode," Vassili Serebriakov, currency strategist at BNP Paribas, said. The dollar has been suffering since Sept. 6 when t... Read More
Mid-Day Gold & Silver Market Report – 10/2/2013
CURRENT POLITICAL, ECONOMIC CLIMATE BOOST GOLD The beginning of the second full day of a U.S. government shutdown has taken its toll on markets as a weaker dollar pushed Gold up and forced equities down. With government officials still at an impasse regarding passing a budget bill, the debt ceiling looming on the horizon ... Read More
Morning Gold & Silver Market Report – 10/2/2013
SHUTDOWN OR NO, DEBT CEILING STILL LOOMS The second day of the U.S. government shutdown has now affected the U.S. dollar, driving it down and giving support to the Gold price. U.S. Treasury Secretary Jacob Lew reiterated his previous statements regarding the debt ceiling, saying that the country will have a mere $30 billion ca... Read More
Closing Gold & Silver Market Report – 10/1/2013
GOVERNMENT CLOSURE FAILS TO IMPACT MARKETS The downward pressure on Precious Metals remains as the U.S. government shutdown failed to rally Gold’s safe haven appeal, and deflationary concerns currently outweigh the fear of inflation among economists. Major sell-offs in exchange traded funds (EFTs) forced the Gold price down today as mo... Read More
Mid-Day Gold & Silver Market Report – 10/1/2013
PRECIOUS METALS FEELING INVESTORS LACK OF FAITH Precious Metal prices have taken a downward trend through mid-day trading. Its lack of safe-haven appeal has pushed many traders into a sell off. Many investors are taking note of the U.S. government shutdown; however, it is not currently having a major effect on prices. Jeffrey Wright, managing director at H.C. Wainwright LLC, said, “Part of the reason for the deflationary sentiment is the federal government is not expanding t... Read More
Morning Gold & Silver Market Report – 10/1/2013
U.S. GOV’T SHUTS DOWN, GDP COULD TAKE HIT Precious Metals prices fell in overnight trading, shrugging off brief gains immediately after the U.S. government shut down for the first time in 17 years. Investors appear to be betting that the matter will be resolved shortly. One major concern, however, is that Congress could potentially have an even harder time with the debt-ceiling deadline in j... Read More
Closing Gold & Silver Market Report – 9/30/2013
PRECIOUS METALS DIP AS GOVERNMENT OFFICIALS ATTEMPT TO RAISE DEBT LIMIT AT THE LAST MINUTE Precious Metals remain slightly down for the day ahead of a possible U.S. government shutdown. Gold was hit hard this year during the first quarter when prices dropped dramatically, but the yellow metal has risen 8.4 percent so far this quarter as the market has become more bullish for several reasons. Investors have been more attracted to Gold in particular as the Federal Reserve has ... Read More
Mid-Day Gold & Silver Market Report – 9/30/2013
LARGEST ISSUE FACING MARKET TODAY: COMPLACENCY U.S. stocks dropped sharply in morning trading. Bruce Bittles of RW Baird & Co. explained that there could be more to this than meets the eye. He said, “It’s difficult to say what these politicians will eventually put together, but the largest problem the market faces here is not per se the... Read More
Morning Gold & Silver Market Report – 9/30/2013
GOVERNMENT DEADLOCK ON SPENDING BILL WEIGHS ON FUTURES MARKET The growing possibility of a U.S. government shutdown has depressed stock futures during morning trading as government concerns look to be today’s main market motivators. Failure to pass a budget bill by Monday night will cause a partial government shutdown resu... Read More
Weekly Gold & Silver Market Recap – 9/27/2013
PRICES MOVE ON MIXED MARKET SIGNALS Precious Metal prices experienced ups and downs this week on speculation of economic stimulus tapering occurring this year and the countdown for a potential government shutdown. Metals started the week giving up gains from previous sessions. Banyan Partners chief market strategist Robert Pavlik said, “Tapering might begin as soon as O... Read More
Mid-Day Gold & Silver Market Report – 9/27/2013
PRECIOUS METALS BOOSTED ON UNCERTAINTY Precious Metals prices continue to trade higher through mid-day trading. This pushed Gold to positive territory for the week. With a budget deadline next Tuesday, many investors are concerned about what is next. Sam Wardwell, an investment strategist at Pioneer Investments, said, “A government shutdown would be a ... Read More
Morning Gold & Silver Market Report – 9/27/2013
ANALYST: NO EVIDENCE DEBT CEILING WILL BE RAISED IN TIME Gold and Silver prices are hovering just over one percent higher this morning as investors continue to weigh a potential shutdown in Washington. Saxo Bank’s Ole Hansen said, “Many traders are sidelined at the moment as a general level of confusion exits. Support is obviously coming from the U.S., where lawmakers are once again playing Russian roul... Read More
Closing Gold & Silver Market Report – 9/26/2013
U.S. DEBT CONCERNS STILL WEIGHING ON METALS Precious Metals continued to trade flat through the afternoon, giving back a portion of recent gains. Economic data showing a decline in both pending home sales and jobless claims, along with continued U.S. budget talks, are providing pressure to metal prices. CitrinGroup founder and executive chairman Jonathan Citrin said, “The metal continues to suffer as global conditions progress, albeit slowly, toward more recovery than not. …... Read More
Mid-Day Gold & Silver Market Report – 9/26/2013
BUDGET STANDOFF FAILING TO SIGNIFICANTLY IMPACT MARKETS News showing a decline in weekly unemployment numbers has trumped budget negotiation concerns and weak home sales data to push the Gold price lower Thursday. Following a round of technical buying, Gold’s safe haven appeal was temporarily present during Wednesday’s session, driving the metal up for the first time in four days. However, today it appears as the majority of Read More
Morning Gold & Silver Market Report – 9/26/2013
DEBT CEILING WORRIES STRESS GOLD AS SAFE-HAVEN The Gold price is little-changed in morning trading after giving up small gains following economic data releases. Mitsubishi analyst Jonathan Butler believes that more of the same could be expected in the short-term. He said, “I don't think there is going to be a situation quite like in 2011 [when the price hit a record on debt ceiling worries], but sentime... Read More
Mid-Day Gold & Silver Market Report – 9/25/2013
U.S. BUDGET CONCERNS WEIGH ON INVESTOR SENTIMENT Gold is on the rise at mid-day on the heels of technical buying and concerns surrounding U.S. budget negotiations and a potential government shutdown. Breaking a three day skid that saw Gold tumble nearly 4 percent, the Read More
Morning Gold & Silver Market Report – 9/25/2013
LEW: CONGRESS HAS MUCH TO DO IN LITTLE TIME Gold and Silver prices were little changed in overnight trading. Saxo Bank’s Ole Hansen explained, “The markets don’t really know where to go at the moment. If the budget talks continue to stall, that could obviously give a boost, but on the other side the focus on [quantitative easing] tapering won't go at the moment as an October announcement won't make the ... Read More
Closing Gold & Silver Market Report – 9/24/2013
GOLD, STOCKS LOOK TO BREAK MULTI-SESSION LOSING STREAKS Gold has recovered ground lost during morning trading as technical support and physical demand helped rally Precious Metals back to even levels. “Buyers have been stepping in each time Gold holds support down near $1,300 an ounce, which looks like a short-term bottom for now,” U.S. Global Investors head trader Michael Matousek said. As Read More
Closing Gold & Silver Market Report – 9/24/2013
GOLD, STOCKS LOOK TO BREAK MULTI-SESSION LOSING STREAKS Gold has recovered ground lost during morning trading as technical support and physical demand helped rally Precious Metals back to even levels. “Buyers have been stepping in each time Gold holds support down near $1,300 an ounce, which looks like a short-term bottom for now,” U.S. Global Investors head trader Michael Matousek said. As Read More
Mid-Day Gold & Silver Market Report – 9/24/2013
METALS CONTINUE TO FEEL PRESSURE Precious Metals prices continue to trade lower through afternoon trading. Increasing speculation on when the Federal Reserve will begin to slow its bond buying program are once again having an effect on prices. Commerzbank AG wrote in a report today, “The debate about whether the Federal Reserve ma... Read More
Mid-Day Gold & Silver Market Report – 9/24/2013
METALS CONTINUE TO FEEL PRESSURE Precious Metals prices continue to trade lower through afternoon trading. Increasing speculation on when the Federal Reserve will begin to slow its bond buying program are once again having an effect on prices. Commerzbank AG wrote in a report today, “The debate about whether the Federal Reserve ma... Read More
Morning Gold & Silver Market Report – 9/24/2013
GOLD LOWER; THREE ISSUES BIGGER THAN QE Lingering doubts over the longevity of the U.S. Federal Reserve’s quantitative easing (QE) program are putting pressure on Gold and Silver prices this morning. Investors are still pondering comments from St. Louis Fed President James Bullard, who said that QE tapering could happen as soon as next month. A... Read More
Closing Gold & Silver Market – 9/23/2013
PRICES FLAT AMONGST MIXED MARKET SIGNALS Precious Metal prices continued to give up gains from previous sessions through afternoon trading. Speculation on when the Federal Reserve will begin to taper its quantitate easing program have affected recent prices. Robert Pavlik, chief market strategist at Banyan Partners said, “Tapering might begin as soon as October or t... Read More
Mid-Day Gold & Silver Market Report – 9/23/2013
FED’S BULLARD SAYS QE COULD STILL BEGIN SOON Precious Metals prices are down slightly this morning after comments from St. Louis Federal Reserve President James Bullard left investors wondering if quantitative easing tapering could begin soon. However, MKS SA’s Afshin Nabavi said, “Unless there is some mega change in the U.S. labor market, I don't think we will have any QE slowdown this year and that sh... Read More
Morning Gold & Silver Market Report – 9/23/2013
FED OFFICIALS TO SPEAK; GOLD STILL UNDER PRESSURE U.S. stock futures are slipping this morning as investors await speeches from Federal Reserve officials regarding stimulus tapering. Nine officials are expected to speak this week, and there is prevalent hope that the representatives will offer insight to the Fed’s overall strategy regardin... Read More
Weekly Gold & Silver Market Recap – 9/20/2013
SUMMERS STEPS DOWN FROM FED CHAIRMAN RACE The week began with some unexpected news as Lawrence Summers personally removed his name from contention in the race to replace Federal Reserve Chairman Ben Bernanke. Summers has been vocal about the idea of aggressively reducing the scale of quantitative easing, so his withdrawal left his main competitor, Janet Yellen, as the clear front-runner to assume the office of Fe... Read More
Mid-Day Gold & Silver Market Report – 9/20/13
METALS SHOW EFFECTS OF PROFIT TAKING Precious Metals prices are continuing to slowly slide through mid-day trading as this week’s big rally upward begins to slow. With many feeling prices are being affected by profit taking, Gene Arensberg, editor of the Got Gold Report said, “So what we’re seeing now is digestion of the surprise knee-jerk reaction on Wednesday — but make no mistake: Read More
Morning Gold & Silver Market Report – 9/20/13
METALS ON TRACK FOR BEST WEEK SINCE MID-AUGUST Precious Metals prices are giving up some of the gains posted after the U.S. Federal Reserve did not announce a plan to taper its quantitative easing (QE) program Wednesday. It appears as though profit-taking is occurring, though Gold is still on course to its best week since mid-August. In India, the world’s largest consumer of Gold, new import rules are c... Read More
Closing Gold & Silver Market Report – 9/19/2013
GOLD CONTINUES CLIMB AS FIGHT HEATS UP IN WASHINGTON Gold prices continued to climb through afternoon trading. Yesterday’s announcement that the Federal Reserve will not begin to taper its quantitative easing program has caused Precious Metals prices to surge upward. Richard Gotterer, managing director and senior financial advisor at Wescott Financial Advisory Group, s... Read More
Mid-Day Gold & Silver Market Report – 9/19/2013
GOLD HIGHER FOLLOWING BERNANKE’S STEADFAST COMMITMENT TO QE Gold remains up today following Federal Reserve Chairman Ben Bernanke’s announcement that the current scale of monetary easing will not be reduced. “Wow — just as it seems that the Fed had the markets comfortable with tapering, they pull the rug out from everyone,” Richard Gotterer, managing director and senior financial adviser at Wescott Financial Advisory, said. “Now the question is will the Fed p... Read More
Morning Gold & Silver Market Report – 9/19/2013
NON-MOVE BY FED A ‘GAME-CHANGER’; JOBLESS CLAIMS RISE Precious Metals prices continue to benefit from the U.S. Federal Reserve’s announcement yesterday that quantitative easing will not be tapered at this time. Standard Chartered analyst Dan Smith said, “If people have a view that this is a game changer for the Fed, then that may change their perception of what's good value for Gold. (We) ar... Read More
Closing Gold & Silver Market Report – 9/18/2013
METALS JUMP ON FED TAPERING DODGE; NATIONAL DEBT LIMIT IN QUESTION The Federal Reserve announced today there decision to not taper its monthly asset-purchasing program. Within minutes of the statement, Precious Metals quickly turned around from their losses with Gold jumping nearly 3 percent. Due to the condition of the U.S. economy, the Fed proclaimed it was not the right time to make any changes to quantitative... 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.
