Precious Metals Market Reports
Mid-Day Gold & Silver Market Report – 8/13/2013
WEAK RETAIL SALES WEIGH ON MARKETS Even as trading volume remains low during the summer season, Gold is down halfway through Tuesday’s session as a stronger dollar and reports of an increase on Indian import taxes weigh on the metal. However, July retail sales data came in below target, leaving many economists wondering whether tapering of the ... Read More
Morning Gold & Silver Market Report – 8/13/2013
CHINA TO OVERTAKE INDIA AS LARGEST GOLD CONSUMER The fall of the Japanese yen, along with the latest China Gold Association data released Monday, influenced Gold prices in overnight trading. After ending Monday up, the price for the yellow metal is down slightly in morning trading. However, Barry Dawes, head of resources at Paradigm Securities, stated, “The physical demand for Gold is robust and we're seeing premiums in Asia that you don't see in other parts of t... Read More
Closing Gold & Silver Market Report – 8/12/2013
PHYSICAL DEMAND CAUSES BACKWARDATION; FED ECONOMISTS SPEAK Gold is causing some uproar as analysts suggest the yellow metal has gone into backwardation, meaning the current spot price is higher than the future contract price. Today, the COMEX division of the New York Mercantile Exchange showed December delivery for Gold rose by $22 to $1,334.20 an ounce, while October’s contract reported $1,334.30 an ounce and the spot price was $6.87 higher. &quo... Read More
Mid-Day Gold & Silver Market Report - 8/12/2013
GOLD RALLIES ON DEBT CEILING CONCERNS Gold prices continued to rally through morning trading, hitting a three week high on debt ceiling fears and positive Chinese economic data. Ole Hansen, head of commodity strategy at Saxo Bank, commented, “The jump in Gold since the low last week has primarily been driven by Silver following the better-than-expec... Read More
Morning Gold & Silver Market Report – 8/12/2013
GOLD RISES ON ASIAN ECONOMIC NEWS Gold futures are trading higher this morning as SPDR Gold Trust Fund, the world’s largest Gold exchange traded fund (ETF), substantially increased its holdings by 1.8 metric tons, marking its first growth since early June. Boosted by today’s news, Gold could realize a four session win... Read More
Weekly Gold & Silver Market Recap – 8/9/2013
GOLD BATTLES OPTIMISTIC U.S. ECONOMIC NEWS At the beginning of the week, Gold was struggling to stay above its support level of $1,300 an ounce alongside positive economic data. On Monday, the Commerce Department reported that U.S. manufacturing grew in July at its quickest rate in more than two years. “The economy is healing,... Read More
Mid-Day Gold & Silver Market Report – 8/9/2013
STOCKS, GOLD SET TO END WEEK LOWER U.S. stocks have fallen Friday leaving equities markets set to end the week lower, effectively ending a six week rally (the longest in one year). With trading volume at its lowest level in 12 months, investors are still attempting to position themselves based on their outlook for the future of the Federal Reserve’s... Read More
Morning Gold & Silver Market Report – 8/9/2013
TAPERING DISCUSSION CONTINUES TO SPUR MARKETS The Gold price is mostly flat this morning as investors appear to be waiting for the next clue as to when the Federal Reserve will begin tapering the current round of quantitative easing. Mitsui Precious Metals analyst David Jollie said, “With one obvious news story being discussed all the time, which is the progress towards, or lack of progress towards, tap... Read More
Closing Gold & Silver Market Report – 8/8/2013
CHINESE TRADE GROWTH LIFTS MARKETS Precious Metals experienced a solid boost today as a weaker U.S. dollar pushed Gold up by more than $25 an ounce. Strong import data from China along with positive economic reports from the eurozone weighed down the dollar, giving metals an unexpected lift. Lower prices caused physical demand for Gold to rise b... Read More
Mid-Day Gold & Silver Market Report – 8/8/2013
GOLD RALLY CONTINUES; PLATINUM AT TWO YEAR HIGH VS. GOLD The Gold price held onto its early gains and even added to them as the U.S. dollar sits near a seven-week low against a basket of major currencies. We would have to look back to mid-June to see the last time the dollar was this low. The dip in its value is being blamed on the current Fed policy and a rise in new jobless claims. The inverse correlation between Gold and the dollar is highlighted today as the price of Go... Read More
Morning Gold & Silver Market Report – 8/8/2013
DOLLAR FALLS TO SEVEN-WEEK LOW Precious Metals and U.S. stock futures added to early gains after the release of the weekly jobless claims report. The report showed that 5,000 new claims were filed, and new claims from two weeks ago were revised upwards. Continuing jobless claims increased by 67,000. The U.... Read More
Closing Gold & Silver Market Report – 8/7/2013
GOLD UNCHANGED TODAY AS MINERS WEIGH PRODUCTION POTENTIAL Precious Metals prices remain relatively flat in today’s trading as the pressure from a potential reduction in quantitative easing measures weighs on the minds of traders and investors alike. Short-term price movement is lacking definitive momentum as many traders are enjoying time off ... Read More
Mid-Day Gold & Silver Market Report – 8/7/2013
PRECIOUS METALS NOT SURE HOW TO REACT TO THE POSSIBILITY OF TAPERING MONETARY POLICY Precious Metals are feeling the heat today as concern is growing that the U.S. Federal Reserve may begin tapering as early as next month. Due to the assumption of the cutback in fiscal policy, the Gold price traded lower this morning and has since had a nice bounce. The market became alarmed after Fed presidents’ comments this week confirming their belief that it is Read More
Morning Gold & Silver Market Report – 8/7/2013
FED TALK DOMINATES, PRESSURES STOCKS, GOLD The Gold price fell in overnight trading to a three week low as speculation abounds that the U.S. Federal Reserve will start to reduce bond purchases within the next few months. This is the much debated and much speculated topic of tapering. It is inevitable that the Fed will taper their bond buying as the economy is showing signs of improvement; the exact timing is what is unknown. Read More
Closing Gold & Silver Market Report – 8/6/2013
GOLD HOLDS UNDER $1,300 The Gold price fell to the lowest it has been in three weeks today. A variety of data affected the already embattled Precious Metal until apparent technical selling at the $1,300 mark kicked in, driving the price even lower. One key factor was the improvement in the trade deficit. The U.S. economy may have grown faster than initially reported in the second quarter as evidenced by the lowe... Read More
Mid-Day Gold & Silver Market Report – 8/6/2013
REDUCED GOLD PRODUCTION TO BOOST METALS PRICES? Gold has fallen again today as the anticipated arrival of Fed stimulus tapering draws closer. Atlanta Federal Reserve Bank President Dennis Lockhart claimed that a reduction in the scale of monthly asset purchases could be announced at any of the forthcoming policy meetings. Though decreasing the level of quantitative easing (QE) is expected to put downward pressure on Precious Metals, the Read More
Morning Gold & Silver Market Report – 8/6/2013
DATA CAUSES SNOWBALL EFFECT ON GOLD PRICE Economic data from the U.S. and Europe pulled the Gold price down in overnight trading. Sharps Pixley CEO Ross Norman said, “We fell through the psychological support level of $1,300 last night, and it does feel as the prevailing dollar strength is curtailing Gold momentum. [However,] it is hard to read too much into moves during the summer months as... Read More
Closing Gold & Silver Market Report – 8/5/2013
QUESTION REMAINS ON HOW FED WILL APPROACH TAPERING MONETARY POLICY Today, Gold fell from positive economic data, but was able to stay above its supported level of $1,300 an ounce. The Commerce Department reported that U.S. manufacturing grew in July at its quickest rate in more than two years. “The economy is healing, and if t... Read More
Mid-Day Gold & Silver Market Report – 8/5/2013
PLATINUM OUTPERFORMING GOLD IN 2013 Gold and Silver prices were little changed in morning trading Monday. Platinum is making headlines, however, as holdings in exchange-traded funds are at record highs. Commerzbank analysts believe that rising U.S. automobile sales have played a major factor in this, along with supply issues out of... Read More
Morning Gold & Silver Market Report – 8/5/2013
GOLD HOLDING ABOVE $1,300 The Gold price is tentatively holding above $1,300 an ounce on Monday as the U.S. dollar showed signs of softening due to mixed U.S. data last week. Euro zone data showed business expanded for the first time in 18 months putting pressure on the dollar. In addition, strong GDP and factory data offset weak hiring data helping the Precious Metal finish above $1,300. As always, the topic of the Federal Reserve’s Quantitative Easing tapering s... Read More
Weekly Gold & Silver Market Recap – 8/2/2013
GOLD BUILDS MOMENTUM DURING TYPICALLY SLOW SEASON While summer tends to be a slower time of the year for trading stocks, the week began with promises to be a bit more interesting. The week brought yet another U.S. Federal Reserve meeting for a market hopeful for clarification on tapering the economic stimulus program. The Gold price began overnight trading with a dip, but rebounded nicely Monday morning as it posted gains, Read More
Mid-Day Gold & Silver Market Report – 8/2/2013
GOLD STEADIES AS JOBS REPORT EXPECTED TO INFLUENCE CONTINUED QE The Gold price remains steady at mid-day after a turbulent morning of trading. An initial dip, caused by bearish investors predicting a reduction of quantitative easing next month, was followed by a quick rebound prompted by weak jobs data. “There is a bit of ambiguity in the numbers because the unemployment figure is at multi-year lows but all-in-all I think Gold may be able to hold above $1,300 [per ounc... Read More
Morning Gold & Silver Market Report – 8/2/2013
JOBS DATA DISAPPOINTS; GOLD RECOVERS The Gold price rose more than two percent to recover from early losses after the release of the U.S. Department of Labor’s nonfarm payrolls report. The disappointing number of jobs added to the economy missed targets by nearly 20,000. The unemployment rate fell to 7.4 percent; however, that is partly due to Americans leaving the workforce. Todd M. S... Read More
Closing Gold & Silver Market Report – 8/1/2013
GOLD STEADIES AS S&P BREACHES KEY LEVEL Despite guarded comments from the U.S. Federal Reserve Wednesday giving no indication of plans to deviate from the current stimulus platform, investors remain concerned about a potential reduction in monetary easing. Due to a lack of commitment from both buyers and sellers, Gold and Silver remained fl... Read More
Mid-Day Gold & Silver Market Report – 08/01/2013
GOLD PRICE RETREATING; STOCKS SURGING There is a strong inverse correlation between the U.S. dollar and Gold, such that when the dollar moves one way, the Gold price tends to move the other. Today is an example of that as we watch the Gold price pare gains made overnight and early this morning after news the Institute for Supply Management’s July manufactu... Read More
Morning Gold & Silver Market Report – 8/1/2013
ONE WEIGHT ON GOLD’S PRICE DISSIPATING Precious Metals and U.S. stock futures are both trading higher this morning after yesterday’s U.S. Federal Reserve statement and the overnight release of China’s purchasing managers index. Peter Garnry of Saxo Bank said, “The drivers are both the more dovish tune from the Fed and better-than-e... Read More
Closing Gold & Silver Market Report – 7/31/2013
FED ANNOUNCEMENT SUPPORTS METALS; EUROZONE MAY EXIT RECESSION SOON Precious Metal prices rebounded from morning losses after the U.S. Federal Reserve announced interest rates would remain unchanged as long as the economy continues to improve at its current modest pace. “There is nothing in the latest [Federal Open Market Committee] statement released today to suggest that Fed officials have changed th... Read More
Mid-Day Gold & Silver Market Report – 7/31/2013
ECONOMY WEIGHS ON GOLD AS INVESTORS AWAIT FOMC RESULTS Gold is feeling the downward pressure imposed by mostly positive economic factors today. With positive news regarding domestic economic growth of 1.7 percent during the second quarter and another strong month in the jobs market, it is little surprise that the safe haven appeal of Precious Metals is temporarily weakened. Though Gold and Silver are experiencing modest setbacks this morning, most... Read More
Morning Gold & Silver Market Report – 7/31/2013
MARKETS PLAY WAITING GAME U.S. stock futures are holding on to fractional movements this morning as investors await today’s stack of economic data. Second quarter GDP, private-sector payrolls and the outcome of the U.S. Federal Reserve meeting will add fuel to the fire and move the needle one way or the other. It’s no surprise that investors are cautious after the selloff in May when the Fed commented on the future of quantitative easing. Read More
Closing Gold & Silver Market Report – 7/30/2013
QUIET DAY FOR EQUITIES, GOLD Wednesday is setting itself up as a big news day with the release of the second-quarter gross domestic product (GDP) report and the ever-important meeting of the U.S. Federal Reserve. The economy is measured by the GDP and a decline down to 1 percent is expected. In the first quarter of 2013, the economy grew to 1.8 percent; the country’s long term average is 3.2 percent. In short, the economy is growing, just not as fast as the current administ... Read More
Mid-Day Gold & Silver Market Report – 7/30/2013
GOLD REGAINS GROUND ON WEAK CONSUMER CONFIDENCE The Gold price has recovered from early morning losses as waning consumer confidence reports for July helped challenge certain expectations for the future of U.S. monetary policy. Investors will be intently scrutinizing the outcome of stimulus discussions at this week’s Federal Open Market Committee (FOMC) meeting to gain perspective on structuring their portfolios. Anticipating this meeting, Read More
Morning Gold & Silver Market Report – 7/30/2013
GOLD DEMAND, PREMIUMS SWELL IN INDIA Precious Metals prices are slightly lower this morning on anticipation of economic data and the Federal Open Market Committee (FOMC) meeting later this week. Physical demand for Gold in India, the world’s largest consumer of the metal, increased this week as the country’s central bank instituted new rules in an attempt to reign in its swelling trade deficit. Due to n... Read More
Closing Gold & Silver Market Report – 7/29/2013
GOLD ON THE RISE AHEAD OF FED MEETING; SILVER DEMAND INCREASING IN ASIA Gold is on the rise as investors wait for this week’s two-day U.S. Federal Reserve meeting for further news on the future of fiscal policy. I think people want to stay on the sidelines until the Fed Meeting and this will generate a lot of two-way business in the next couple of sessions," MKS SA senior vice president Bernard Sin sai... Read More
Mid-Day Gold & Silver Market Report – 7/29/2013
FED MEETING LOOMS; GOLD GAINS GROUND Precious Metals prices have continued their climb higher in morning trading as investors await the Federal Open Market Committee meeting later this week. Intesa Sanpaolo economist Giovanna Mossetti wrote that the Fed should “remain markedly dovish [as they have previously announced that] monetary policy mus... Read More
Morning Gold & Silver Market Report – 7/29/2013
IMPORTANT WEEK FOR STOCKS; GOLD STARTING STRONG While summer tends to be a slower time of the year for trading stocks, this week promises to be a bit more interesting. The Federal Reserve once again is meeting this week to pick up the popular topic of tapering the economic stimulus program. In addition, a large percentage of the S&P 500 companies report earnings and big oil like BP, Exxon, and Chevron all report second quarter earnings this week.... Read More
Weekly Gold & Silver Market Recap – 7/26/2013
GOLD SOARS PAST $1,300 FOR FIRST TIME IN ONE MONTH Gold began the week on a high note after breaking through the key resistance level of $1,300 an ounce, a level that the Precious Metal had tested, but failed to beat in the past month. Gold prices reached as high as $1,322.50 on Monday morning before relaxing back down only to spike again before the... Read More
Mid-Day Gold & Silver Market Report – 7/26/2013
SILVER FUNDAMENTALS POINT TO UPSIDE POTENTIAL Precious Metals are down headed into the weekend, though both Gold and Silver are still expected to realize another week of gains. With prices depressed to multi-year lows and the future scale of quantitative easing (QE) still in question, many experts view current Precious Metals prices as an excellent buying opportunity for investors. The massive sell-off of Silver futures contracts in the first half of 2013, wh... Read More
Morning Gold & Silver Market Report – 7/26/2013
WEAKER U.S. DOLLAR; GOLD RIDING THREE WEEKS OF GAINS A drop in the value of the U.S. dollar has had a ripple effect that extended beyond Wall Street’s equities market, triggering a sharp drop in Japan stocks overnight. Investors are looking ahead to next week’s data and the Federal Reserve meeting. Keith McCullough, chief executive off... Read More
Closing Gold & Silver Market Report – 7/25/2013
WEAK DOLLAR LIFTS GOLD AFTER WEDNESDAY’S PRICE DROP Gold continues to react to the state of the U.S. dollar as speculation over the tapering of domestic stimulus and macroeconomic data influence currency movement. As it has become more apparent that the Federal Reserve will inevitably reduce the level of bond purchases in the near future, inves... Read More
Mid-Day Gold & Silver Market Report – 7/25/2013
U.S. STOCKS IN CHOPPY TRADE; GOLD ADDS TO GAINS The major indexes are trading like a roller coaster today. The Dow is down while the NASDAQ is up followed by lower prices for the S&P 500. Investors are digesting mixed corporate and economic reports. Phil Orlando, equity market strategist at Federated Investors, suggested, “[The S&P 500] got ... Read More
Morning Gold & Silver Market Report – 7/25/2013
JOBLESS CLAIMS FALL; GOLD REVERSES COURSE Gold and Silver prices have reversed losses this morning after economic data showed a rise in jobless claims. U.S. stock futures fell after the news. The focus on data is surrounding quantitative easing and whether the Federal Reserve will have enough positive data to support tapering of ... Read More
Closing Gold & Silver Market Report – 7/24/2013
GOLD DIPS AS U.S. HOUSING MARKET HITS HIGHEST POINT IN 5 YEARS Gold was pressured down today after optimistic U.S. housing market data was announced. The amount of purchased homes in the U.S. jumped to 8.3 percent in June, the highest point since May 2008. Positive economic data has become the center of concern for the market as the Federal Reserve announced they will continue to watch reports to determine if fiscal policy should be tapered. “Every new data b... Read More
Mid-Day Gold & Silver Market Report – 7/24/2013
GOLD, STOCKS SETTLE LOWER FOLLOWING RALLIES Gains made by the U.S. dollar versus competing world currencies weighed down the Gold price today after reaching a one month high Tuesday. As the U.S. Federal Reserve assured investors that continuance of quantitative easing will depend on domestic economic data in the coming months, Gold has responded with a 6 percent increase over four straight sessi... Read More
Morning Gold & Silver Market Report – 7/24/2013
METALS FLAT AS INVESTORS WEIGH DATA Precious Metals prices are flat this morning, while U.S. stock futures are on the rise. News out of China and other economic data from around the world continue to affect prices as investors look for clues as to what will happen next. Andy McLevey of Interactive Investor said, “Arguably, so long as we have the promise of cheap money on the tabl... Read More
Closing Gold & Silver Market Report – 7/23/2013
GOLD UP AGAIN; DOW CLOSES AT RECORD The lagging U.S. dollar helped lift the Gold price today reaching a one-month high. The day started a bit listless for the Precious Metal, but it was able to stage a late day comeback on low trading volume as traders sought to cover short positions. David Meger, director of metals trading at futures brokerage Vision Financial Markets,... Read More
Mid-Day Gold & Silver Market Report – 7/23/2013
GOLD STEADIES FOLLOWING MONDAY’S PRICE JUMP The Gold price has steadied today following the largest single day increase in over one year. As Gold broke through the $1,300 resistance level after assurance from the Federal Reserve that quantitative easing (QE) will continue uninterrupted, many traders were forced to close out short positions as several... Read More
Morning Gold & Silver Market Report – 7/23/2013
ANALYSTS KEEP EYES ON FED FOR CLUES ON GOLD’S FUTURE Precious Metals prices are dropping in early morning trading. Monday’s gain was the largest for the Gold price since June 2012, and many analysts believe the fall today is simply short covering and profit taking. For clues on the future of Gold’s price, EverBank’s Mik... Read More
Closing Gold & Silver Market Report – 7/22/2013
GOLD JUMPS WITH WEAK DOLLAR; U.S. HOUSING BUBBLE MAY BE NEAR Gold is on the rise today after a weaker U.S. dollar caused investors to become concerned on whether the Federal Reserve will or won’t continue with its fiscal policy. The market is beginning to react after last week’s uncertain announcement from Fed Chairman Ben Bernanke about the bond buying program’s future. “We are seeing some support for Gold as Bernanke’s statements tell us that the Fed wants to see a visibl... Read More
Mid-Day Gold & Silver Market Report – 7/22/2013
HOUSING NUMBERS BRING U.S. DOLLAR DOWN, GOLD UP The Gold price has continued its climb in morning trading and is looking to close above $1,300 per ounce for the first time in more than one month. After the National Association of Realtors said that home sales in the U.S. fell by 1.2 percent, the U.S. Dollar fell against other currencies, leading ... Read More
Morning Gold & Silver Market Report – 7/22/2013
GOLD BREAKS $1,300; U.S. STOCKS STRUGGLE The Gold price hit a one month high in overnight trading as the U.S. dollar weakened. Buying picked up steam after prices broke through the key resistance level of $1,300 an ounce, a level that the Precious Metal had tested, but failed to beat in the past month. Gold prices reached as high as $1,322.50 before relaxing back d... Read More
Weekly Gold & Silver Market Recap – 7/19/2013
METALS FEEL PRESSURE FROM U.S. DATA; INVESTORS AWAIT BERNANKE’S TESTIMONY The week began with a stronger dollar, rising ahead of U.S. retail sales data, which put pressure on the Gold price. Danske Bank analyst Christin Tuxen said, “There is expectation that U.S. retail sales may be a fairly good number following the steady improvement we have seen in t... Read More
Mid-Day Gold & Silver Market Report – 7/19/2013
WEAK DOLLAR, STOCKS BOOST APPEAL OF GOLD As stocks struggled during morning trading, Gold is up again, set for its second positive week in a row. Though the move upward is not as vigorous as many investors would like, a weaker U.S. dollar and lower equities figures have traditionally been positive for the yellow metal. Following this week’s Congressional testimony by Federal Reserve Chairman Ben Bernanke, Gold gained support as it became clear tha... Read More
Morning Gold & Silver Market Report – 7/19/2013
EARNINGS SEASON CONTINUES; GOLD GAINS FOR SECOND WEEK U.S. stocks are showing mixed signals before open this morning as earnings from tech companies weigh on returns. Countering those are positive numbers from giants like GE and Honeywell International, resulting in a uncertain start to the day. Mike McCudden, head of derivatives at Interactive Investor, said, “Earnings disappoin... Read More
Closing Gold & Silver Market Report – 7/18/2013
GOLD LEVEL AS TECHNICAL RESISTANCE BOOSTS DEMAND The Gold price rebounded from morning losses to realize moderate gains today. Thursday’s price increase marks the seventh session out of nine that Gold has ended the day higher. Gold is continuing to hold steady around $1,280 as many investors are still taking advantage of lower prices.... Read More
Mid-Day Gold & Silver Market Report – 7/18/2013
BERNANKE TESTIFIES; GOLD REBOUNDS In his second day of testimony, U.S. Federal Reserve Chairman Ben Bernanke has emphasized that monetary policy will not be tougher for the foreseeable future, explaining, "We have not changed policy. We are not tightening policy." Although talks of winding down its bond purchases has hinted at a tighter future policy, he reiterated that none of what the Fed has communi... Read More
Morning Gold & Silver Market Report – 7/18/2013
JOBLESS CLAIMS FALL; BERNANKE CONTINUES TESTIMONY The Gold price gave up early gains after the release of the weekly jobless claims report, but has since recovered into the black again. The report showed a drop in new claims to the lowest level in more than two months, which should lead investors and analysts to believe the U.S... Read More
Closing Gold & Silver Market Report – 7/17/2013
QE TALKS WEIGH ON GOLD; PAULSON CONTINUES TO TOUT GOLD The Gold price has settled lower today as U.S. Federal Reserve Chairman Ben Bernanke confirmed plans to begin scaling back asset purchases of $85 billion per month, though he left some wiggle room by stating that the tapering of quantitative easing (QE) could be altered following change in the economic climate. Bernanke has stated that he plans to Read More
Mid-Day Gold & Silver Market Report – 7/17/2013
BERNANKE AFFIRMS FISCAL POLICY TAPERING U.S. Federal Reserve Chairman Ben Bernanke began his semiannual monetary report before Congress today, where he confirmed that, if the U.S. job market continues to strengthen and inflation moves closer to the targeted range of 2 percent, the bond buying program would be moderated later this year. He added that that could change depending on incoming economic data. During the Q&A portion of the testimony, Bernanke shared his thought... Read More
Mid-Day Gold & Silver Market Report – 7/17/2013
BERNANKE AFFIRMS FISCAL POLICY TAPERING U.S. Federal Reserve Chairman Ben Bernanke began his semiannual monetary report before Congress today, where he confirmed that, if the U.S. job market continues to strengthen and inflation moves closer to the targeted range of 2 percent, the bond buying program would be moderated later this year. He added that that could change depending on incoming economic data. During the Q&A portion of the testimony, Bernanke shared his t... Read More
Morning Gold & Silver Market Report – 7/17/2013
BERNANKE’S REMARKS SHED LIGHT ON TAPERING Precious Metals prices reversed losses this morning after the release of U.S. Federal Reserve Chairman Ben Bernanke’s prepared remarks for his Congressional testimony, which begins today. Bernanke’s last appearance sparked a rebound in the Gold price as he said there was no timetable for tapering the quantitative easing (QE) program. Today’s remarks read, “I emphasize that, because our asset purchases depend on economic and... Read More
Closing Gold & Silver Market Report – 7/16/2013
GOLD PRICE MAINTAINS; BERNANKE’S BALANCING ACT The Gold price continued to rise throughout the day, showing strength with the stabilization of U.S. inflation pressures. This leveling out suggested that if the U.S. Federal Reserve tapers its bond buying program, it would happen later in the year as opposed to immediately. Investors continue to focus on Federal Reserve Chairman Ben Bernanke’s comments at this week’s semi-annual Congressional testimony for signs of wh... Read More
Mid-Day Gold & Silver Market Report – 7/16/2013
DOLLAR EDGES LOWER; GOLD UP AHEAD OF BERNANKE TESTIMONY The U.S. dollar sank today versus competing world currencies as investors expect little deviation in U.S. Federal Reserve Chairman Ben Bernanke’s Congressional testimony concerning the future of quantitative easing (QE). Bernanke is scheduled to deliver a two-day testimony beginning Wednesday and many experts predict a reiteration of comments made last week assuring the perpetuation of QE in the im... Read More
Morning Gold & Silver Market Report – 7/16/2013
ALL EYES ON BERNANKE TESTIMONY Precious Metals prices are slightly higher while U.S. stock futures are little changed in early-morning trading. Many investors are looking forward to U.S. Federal Reserve Chairman Ben Bernanke’s Congressional testimony tomorrow. In the meantime, inflation data for June was in line with expectations at 0.5 percent. I... Read More
Closing Gold & Silver Market Report – 7/15/2013
RESEARCH SUPPORTS GOLD; SLOWING CHINESE GDP ALARMS GERMANY Gold is on the rise today on the release of several supportive research notes. The market became bearish on Gold as it dropped an estimated 13 percent between trading sessions, but investors are bullish once again as the support level is increasing. "The strength in China and India Gold ... Read More
Mid-Day Gold & Silver Market Report – 7/15/2013
RICKARDS: TAPERING WILL CAUSE FED TO REVERSE COURSE The Gold price has continued its climb toward $1,300 per ounce in morning trading. Analysts at Commerzbank believe that the Gold price is “setting its sights once again on the psychologically important $1,300 mark. [The eurozone] debt crisis is still very much an omnipresent factor and could flare up again ... Read More
Morning Gold & Silver Market Report – 7/15/2013
GOLD RETREATS, STOCKS POSITIVE ON RETAIL SALES The Gold price dipped lower in overnight trading Monday after posting the strongest weekly gain in nearly two years. A stronger dollar, rising ahead of U.S. retail sales data, is putting pressure on the Precious Metal. Danske Bank analyst Christin Tuxen said, “There is expectation that U.S. retail sales may be a fairly... Read More
Weekly Gold & Silver Market Report – 7/12/2013
PRECIOUS METALS BEGIN AND END WEEK WITH A RISE The week began with the unofficial start to the second quarter earnings season, and futures pointed positive. Earning seasons are the months following the end of a quarter; January, April, July, and October. Aside from the regular slew of financial news this week, including the release of the minutes from the Federal Open Market Committee meeting from June, investors will begin looking toward second-quarter earnings. Many compan... Read More
Mid-Day Gold & Silver Market Report – 7/12/2013
PRECIOUS METALS, STOCKS TAKE BREATHER Precious Metals prices are trading flat today as Gold and Silver are set for their first week of gains in one month. Federal Reserve Chairman Ben Bernanke’s assuring commitment to ultra-loose monetary policy helped drive the safe haven appeal of metals as a hedge against dolla... Read More
Morning Gold & Silver Market Report – 7/12/2013
STOCKS HOLD STEADY; GOLD DEMAND HIGH IN CHINA The U.S. stock market is holding steady this morning in premarket trading after surging yesterday to record highs. Banking juggernauts J.P. Morgan Chase & Co. and Wells Fargo have already reported earnings; on tap for later are producer prices, consumer sentiment data and a few Federal Rese... Read More
Closing Gold & Silver Market Report – 7/11/2013
GOLD, STOCKS RALLY ON QE COMMITMENT The Gold price nearly reached a three week high Thursday following indications from Federal Reserve chairman Ben Bernanke that loose monetary policy will remain in place for the foreseeable future. Today’s price increase has given Gold its fourth straight session of gains as the metal begins to eye the $1,300 mark. Though Gold and Silver have been experiencing substantial downward pressure since the mid-April correction th... Read More
Mid-Day Gold & Silver Market Report – 7/11/2013
STOCKS RALLY; GOLD UP FOR 4TH STRAIGHT SESSION U.S. stocks are continuing to surge today pushing the Dow Jones above its all-time high on the support of continued monetary easing. Art Hogan, market strategist at Lazard Capital Markets, said, “[Fed Chairman Ben Bernanke] didn’t say anything new, but he did remind us we have a dual mandate, and neither one... Read More
Morning Gold & Silver Market Report – 7/11/2013
BERNANKE: FED SHOULD BE MORE ACCOMMODATIVE Precious Metals prices jumped Wednesday afternoon and have continued to climb today, with Gold nearing $1,300 and Silver jumping above the $20 barrier. After the release of the minutes from June’s Federal Open Market Committee meeting, U.S. Federal Reserve chairman Ben Bernanke spoke and revealed that the Fed should be more accommodative, which boosted the safe haven appeal of Gold. Analysts at Commerzbank wrote, “We presu... Read More
Closing Gold & Silver Market Report – 7/10/2013
FED MINUTES SUGGEST FISCAL POLICY WILL CONTINUE The minutes from the Federal Reserve’s June meeting affirmed many investors’ presumptions that officials prefer to see an improvement in the job market before tapering fiscal policy. “The Gold market is pleasantly surprised, and is rallying on the minutes,” Tom Power, a senior commodity br... Read More
Mid-Day Gold & Silver Market Report – 7/10/2013
BERNANKE PRESS CONFERENCE TO FOLLOW FED MINUTES Gold and Silver prices have remained mostly flat in morning trading. All eyes continue to focus on today’s release of the minutes from last month’s Federal Open Market Committee meeting and U.S. Federal Reserve Chairman Ben Bernanke’s press conference scheduled to follow the 2 p.m. (ET... Read More
Morning Gold & Silver Market Report – 7/10/2013
FED MINUTES TO SHED MORE LIGHT ON QE TIMING Precious Metals prices are on the rise this morning as investors await minutes from June’s Federal Open Market Committee meeting, scheduled for release at 2 p.m. (ET). Some analysts believe that the market has already “built-in” expectations that the Fed will begin tapering its quantitative easing (QE) program in September, so clues that tapering will begin in... Read More
Closing Gold & Silver Market Report – 7/9/2013
STOCKS STILL RIDING HIGH, GOLD UP FOR SECOND DAY U.S. stocks climbed on Tuesday, specifically the S&P 500. The S&P was within one percent of closing at it’s all time high as Wall Street seemed to be embracing a stronger economy, including higher interest rates. JJ Kinahan, chief strategist with TD Ameritrade said, “The market is voting its... Read More
Mid-Day Gold & Silver Market Report – 7/9/2013
GOLD MOVES HIGHER, RESISTS DIP BELOW $1,200 After Gold avoided dropping through key support levels last week following positive employment reports, the metal is up for the second straight session today. Failure to fall below $1,200 an ounce on the heels of Friday’s non-farm payroll numbers has influenced a wave of short cov... Read More
Morning Gold & Silver Market Report – 7/9/2013
CHINESE INFLATION DATA BOOSTS GOLD The Gold price was pushed higher in morning trading thanks to a report on Chinese inflation. The report showed higher inflation than expected for June, and MKS Capital’s Afshin Nabavi explained, “The numbers out of China were very helpful for the metal's demand, as these indicate an increase in inflation rates, against which Gold is seen as an hedge.” The U... Read More
Closing Gold & Silver Market Report – 7/8/2013
FED TAPERING EXPECTED IN SEPTEMBER; STRIKES IN SOUTH AFRICA MAY AFFECT PLATINUM Gold felt the pressure last Friday after the Bureau of Labor Statistics reported a better-than expected nonfarm payrolls increase for June. Once the report was released, speculation began quickly on when the Federal Reserve might taper fiscal policy. “The unemployment rate remained at 7.6 percent, and our Read More
Mid-Day Gold & Silver Market Report – 7/8/2013
DEUTSCHE BANK: GOLD’S CORRECTION OVER? Precious Metals have mostly added to gains in morning trading, and strategists at Deutsche Bank believe that the correction could be finished. With the caveat that Federal Reserve policy decisions could still hamper Gold’s recovery, the statement read, “It is possible that the major p... Read More
Morning Gold & Silver Market Report – 7/8/2013
EARNING SEASON BEGINS; STOCKS, GOLD UP It’s the unofficial start to the second quarter earnings season, and futures are pointing positive. Earning seasons are the months following the end of a quarter; January, April, July, and October. Aside from the regular slew of financial news this week, including the release of the minutes from the Federal Open Market Committee meeting from June, investors will begin looking toward second-quarter earnings. Many companies have already ... 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.
