Precious Metals Market Reports
Mid-Day Gold & Silver Market Report – 5/31/2013
CONSUMER SENTIMENT BOOSTS STOCKS, LOWERS GOLD Gold is down today, setting the metal up for losses in seven of the last eight months. Today’s losses have erased gains from yesterday that saw Gold settle at its highest point in almost two weeks. Short term prospects for the metal have declined during the last few months as better-than-expecte... Read More
Morning Gold & Silver Market Report – 5/31/2013
MARKETS BRACE FOR MONTH END PROFIT TAKING U.S. stock indices are set to open lower this morning as investors await consumer spending and manufacturing data to give more clues on the future of the U.S. Federal Reserve’s bond buying program. End of month volatility is expected to be high today as well. ETX Capital market strategist Ishaq Siddi... Read More
Closing Gold & Silver Market Report – 5/30/2013
UNEMPLOYMENT, ASIAN REPORTS BOOST GOLD Gold rallied today as the number of unemployment benefit applications rose more than expected in the last week. Economists surveyed by Thomson Reuters were anticipating an increase to 340,000; the market is now concerned with the rise to 354,000 reported by the U.S. Labor Department. "Third jobless claims rise in four weeks is... Read More
Mid-Day Gold & Silver Market Report – 5/30/2013
HOUSING RECOVERS, METALS STILL SHINE Precious Metals prices have continued to rise in morning trading after the release of economic data. U.S. stocks are rebounding as well, after pending home sales showed an increase of 0.3 percent. This was good news, as earlier this week, stocks experienced their largest hit in four weeks. Some analysts are predicting that... Read More
Morning Gold & Silver Market Report – 5/30/2013
ECONOMIC DATA DISAPPOINTS, BUMPS UP GOLD U.S. stock futures held steady while Precious Metals added to gains after this morning’s release of economic data. First quarter U.S. gross domestic product (GDP) figures were revised downward to show a 2.4 percent growth, though expectations were for no change. Also, the weekly jobless claims report sh... Read More
Closing Gold & Silver Market Report – 5/29/2013
GOLD MOVES UP AS DAY ENDS As the day winds down, the cost of Gold is moving up due to the U.S. dollar losing value against other major currencies and strong physical metals buying. While Gold holdings in exchange traded funds [ETFs] are down again today, the physical market reports keep getting stronger. The Gold sales figures ... Read More
Mid-Day Gold & Silver Market Report – 5/29/2013
GOLD GAINS ON DISCOUNT BUYING AND STRONG EURO Yesterday’s price pullback prompted a buying opportunity today as Gold and Silver are boosted by bargain hunting investors. A slightly stronger euro has also helped drive Gold today even as the metal is poised for a second straight month of losses. Though physical demand for Precious Metals remains strong... Read More
Morning Gold & Silver Market Report – 5/29/2013
STRONG DATA HINTS AT QE END U.S. and European markets are experiencing losses today as investors consider data released yesterday that hinted the U.S. Federal Reserve may look to end its monetary easing program. Consumer confidence data was released Tuesday with numbers higher than they have been in five years. Housing market numbers are also on the rise and came in stronger than expected. However, the Organization for Economic Cooperation and Development warned that Read More
Closing Gold & Silver Market Report – 5/28/2013
GOLD ETFS QUESTIONED As the shortened week began, Gold prices moved downward. After reaching toward the $1,400 per ounce mark, the yellow metal backed off slightly. The same market news that pressured Gold last week is doing the same this week. “Good U.S. data continues to weigh on Gold,” Thomas Capalbo, a broker at Newedge Group in N... Read More
Mid-Day Gold & Silver Market Report – 5/28/2013
GROWING DEMAND FOR PHYSICAL METALS WITH CONCERN THAT PRICES MAY SOAR During morning trading, Gold's price fell slightly based on a stronger U.S. dollar and technical selling. Analysts still suggest that investors are taking advantage of every opportunity to invest in the yellow metal as the outlook is positive for Gold. "Every time when gold ... Read More
Morning Gold & Silver Market Report – 5/28/2013
PAPER FUNDS OUTWEIGH PHYSICAL GOLD DEMAND U.S. stock futures are on the rise as the Gold price is down in morning trading. After equities fell late last week as it became apparent the U.S. Federal Reserve would not end quantitative easing earlier than expected, Stephen Pope of Spotlight Ideas said, “We cannot rule out aggressive ... Read More
Weekly Gold & Silver Market Recap – 5/24/2013
GOLD BREAKS LOSING STREAK This week brought an upward change the Gold price hasn’t seen in weeks. Gold & Silver experienced a dip Monday morning, but quickly recovered as technical trading gained positive momentum. “As the market started to come up, it was hitting [short-seller] stops and then that old huge level of support [for Silver], that low [traders] wo... Read More
Mid-Day Gold & Silver Market Report – 5/24/2013
DOLLAR STRENGTHENS VS. YEN, WEIGHS ON GOLD Gold is down slightly today as the metal continues to test key resistance levels in an effort to break northward. After rising Thursday night, the Gold price was unsuccessful in a fourth attempt to breach $1,397 an ounce, instead falling back to its current echelon. Weakness in the Japanese yen continues to bolster the U.S. dollar which is, in turn, putting d... Read More
Morning Gold & Silver Market Report – 5/24/2013
GOLD HEADING FOR BEST WEEK SINCE APRIL Gold’s negative correlation to the stock market has been on display this week, as the yellow metal is heading for its best week in the past month. Mistubishi analyst Jonathan Butler said, “The conditions are favourable for a continued role for Gold. Those loose economic policies aren't coming to an end just yet, though there are some voices in favour of a more hawk... Read More
Closing Gold & Silver Market Report – 5/23/2013
GLOBAL STOCK, DOLLAR WEAKNESS DRIVE GOLD UP Lower global stock prices and weakness in the U.S. dollar pushed Gold higher today, continuing the metal’s recent streak of volatile price action. Widespread selloffs, subsequent short covering and speculation surrounding the future of quantitative easing (Q... Read More
Mid-Day Gold & Silver Market Report – 5/23/2013
GOLD RISES WITH MARKET CONFIDENCE Gold is regaining confidence as there have been considerable selloffs in both Japanese stocks and the global equity markets. Investor sentiment quickly shifted toward the safe haven asset once economic concerns began to brew in Europe and Japan this morning. "I think the feeling on the market is at the mo... Read More
Morning Gold & Silver Market Report – 5/23/2013
RISING YEN CAUSES FALL IN U.S. DOLLAR The Gold price is gaining this morning as a rising Japanese yen caused the U.S. dollar to fall. Another contributing factor is that China’s Purchasing Managers’ Index data fell to a level which signals a contraction. Mitsubishi analyst Jonathan Butler said, “Expectation that China's growth is perhaps not as strong as it was, the equity rally, which has wobbled a bit just in [the] p... Read More
Closing Gold & Silver Market Report – 5/22/2013
UNEVEN FED REMARKS LEAD TO CHOPPY GOLD SESSION The Gold price has settled lower again following a day of turbulent price action on the heels of Federal Reserve Chairman Ben Bernanke addressing the future of quantitative easing (QE). Gold experienced a sudden jolt upward during the first part of Bernanke’s speech warning against premat... Read More
Mid-Day Gold & Silver Market Report – 5/22/2013
GOLD FLAT AFTER FED TESTIMONY When U.S. Federal Reserve President Ben Bernanke speaks, the Gold market listens. Today was no different when Bernanke said it was too early to slow down the central bank’s easing program based on current economic conditions. "The correlation of the dollar with Gold has been quite strong lately, and today's weakness in the U.S. currency after Fed officials said it may be ... Read More
Morning Gold & Silver Market Report – 5/22/2013
FED CHAIRMAN BERNANKE SPEAKS TODAY Precious Metals are trading higher this morning after comments made by two U.S. Federal Reserve officials yesterday. Both New York Fed President William Dudley and St. Louis Fed President James Bullard supported the continuance of the Fed’s quantitative easing (QE) program until more economic progress is made. Gold has been trading against the U.S. dollar recently, as ... Read More
Closing Gold & Silver Market Report – 5/21/2013
GOLD WAITS ON FED’S NEXT MOVE Gold was down two percent to start the day, but recovered a majority of its losses to end only 0.5 percent down. "The dollar is strong, the U.S. stock markets are holding up, and bond yields are climbing, so the (Gold) market is trading in defensive mode ahead of the Federal Reserve's testimony," Saxo Bank senior manage... Read More
Mid-Day Gold & Silver Market Report – 5/21/2013
DOLLAR PUSHES GOLD DOWN; GERMANY SET FOR Q2 RECOVERY Precious Metals fell this morning as the dollar strengthened before the Federal Open Market Committee meeting, where interest rates and possible further quantitative easing will be discussed. “Gold is focused on movement of [the] U.S. dollar, fundamentally, and the [... Read More
Morning Gold & Silver Market Report – 5/21/2013
FOMC MEMBERS TO SPEAK ON POLICY TODAY Precious Metals prices are falling on speculation that an end could be near for the U.S. Federal Reserve’s quantitative easing (QE) program. Gold seems to be setting the trend for the rest of the Precious Metals , as it started falling this morning as the U.S. dollar gained. Physical demand remains strong in China, while in India, the world’s largest Gold consumer, ... Read More
Closing Gold & Silver Market Report – 5/20/2013
MOMENTUM SUPPORTS GOLD, SILVER Gold & Silver experienced a dip this morning, but quickly recovered as technical trading gained positive momentum. “As the market started to come up, it was hitting [short-seller] stops and then that old huge level of support [for Silver], that low [traders] would put all their buy stops there. Once [prices] hit tha... Read More
Mid-Day Gold & Silver Market Report – 5/20/2013
GOLD RECOVERS MORNING LOSSES; FED DISCUSSES QE FUTURE Precious Metals are in positive territory for the first time in eight sessions today as both Gold and Silver have rebounded from early morning losses. Silver futures have fallen to their lowest level in almost three years, while reports from the Commodity Futures Trading Commission, which reveale... Read More
Morning Gold & Silver Market Report – 5/20/2013
SILVER FOLLOWS GOLD’S MOVEMENT To start the week, Silver has hit a two and a half year low, following Gold’s downward trend. While there has been a massive sell-off of exchange traded funds (ETFs) in Gold, it had not had a major effect on Silver until now. The move happened early in the Asian market with a large unidentified investor selling off a large volume of Silver. “The drastic move lower happened pretty mu... Read More
Weekly Gold & Silver Market Recap – 5/17/2013
GOLD CONTINUES DOWNWARD MOVEMENT Precious Metals prices continued moving lower this week. One of the main drivers in the market this week has come from the massive sell-off of Gold ETFs (Exchange Traded Funds). Analysts at Commerzbank AG reported that another six tons of electronically traded Gold holdings were off-loaded Tuesday, which brings the current tally to 412 tons since the beginning of 2013. Though the recent price drop has caused an onslaught of panic selling in ... Read More
Mid-Day Gold & Silver Market Report – 5/17/2013
GOLD CONTINUES SLIDE DESPITE LONG-TERM BULLISH FACTORS The Gold price continues to trend downward as the metal is poised for its longest consecutive session losing streak in four years. The central motivator influencing Gold’s decline is the continued speculation surrounding a potential reduction of quantitative easing (QE) and a rising dollar that has nearly reached a three-year high. Coupled with renewed invest... Read More
Morning Gold & Silver Market Report – 5/17/2013
GOLD DECLINE CONTINUES AS U.S. DOLLAR SURGES The Gold price is continuing its steady march downward and is facing its seventh straight day of losses. The Gold price could post a weekly loss of nearly five percent. Thursday’s data put a damper on Precious Metal’s appeal as a larger-than-anticipated drop in consumer prices for April was reported, less... Read More
Closing Gold & Silver Market Report – 5/16/2013
GOLD BUGS SEE PRICE DROP AS BUYING OPPORTUNITY Today, the market reacted to pessimistic U.S. economic data and its negative effect on both stocks and the dollar. Investors remain bullish for physical metals rather than ETFs as some sell-off occurred today in the market. “We’re seeing some of the pension funds selling via the ETFs, which is a bit of a worrying sign,” Standard Chartered analyst Daniel Smith said. “ Read More
Mid-Day Gold & Silver Market Report – 5/16/2013
GOLD CONTINUES TO STRUGGLE EVEN AS DOLLAR SLIPS Rebounding slightly from early morning losses, Gold is still down on Thursday despite weak U.S. housing and employment data. The Gold price has continued to decline as rumors of a reduction in the volume of monthly asset purchases by the U.S. Federal Reserve has been positive for the global status of the U.S. dollar. “Any signs of a tapering in quantitative easing by the Fed is able to have profound impact on m... Read More
Morning Gold & Silver Market Report – 5/16/2013
GOLD PRICE MAY TEST APRIL LOWS The Gold price is falling for the sixth straight session and is reaching lows not seen since April. A strong U.S. dollar and weak investor sentiment for the Precious Metal are the likely reasons for the recent price drops. The continued stock rally has also led funds to liquidate their Gold positions. Traders said that once Gold fell belo... Read More
Closing Gold & Silver Market Report – 5/15/2013
GOLD NOT GETTING SUPPORT FROM INDIA As the Gold price ends the day at its lowest in almost a month, there is a large piece of the Gold market oddly absent. After a surge of Gold and Silver imports into India in April, the country’s central bank has restricted imports of the metals into the country. Because of the amount of imported Gold and Silver was so large, the coun... Read More
Mid-Day Gold & Silver Market Report – 5/15/2013
STRONG DOLLAR, ETF LIQUIDATION WEIGH ON GOLD Gold continued to descend Wednesday as the price dove below $1,400 leaving the metal poised for a fifth straight session of losses. A strong U.S. dollar and the ongoing exodus from exchange traded funds (ETFs) weighed heavily on the Gold price, which is currently down about 15 percent on the year. An appetite for h... Read More
Morning Gold & Silver Market Report – 5/15/2013
MANUFACTURING INDEX SHOWS CONTRACTION The Gold price fell to a three-week low in early morning trading, though it recovered some losses after a disappointing New York Manufacturing index report was released. U.S. stock futures slipped on the news, as the negative reading indicates contraction in that segment of the economy. The producer price index, a key inflation gauge, showed slowing inflation as food and energy cos... Read More
Closing Gold & Silver Market Report – 5/14/2013
INDIA’S TRADITIONAL GOLD BUYING WAYS MAY BOOST METAL PRICES India has officially begun its traditional wedding season in which it is customary to provide the bride and groom with a gift of Gold. One of the main Gold-buying Hindu festivals is next Monday, and investors think the celebration may lift the yellow metal’s price. “We expect Indian Gold demand to remain at elevated levels with the festive G... Read More
Mid-Day Gold & Silver Market Report – 5/14/2013
GOLD SUPPORTED BY PHYSICAL BUYING While the cost of Gold is dropping for the third session in a row, it is not because of a lack of demand from physical buyers. Steven Evanson, chief executive officer at Evanson Asset Management, said, “The physical and true Gold market, not paper contract market, is on target for the best year ever and shortages and premiums in t... Read More
Morning Gold & Silver Market Report – 5/14/2013
GOLD, SILVER TRADE AGAINST THE DOLLAR Gold and Silver are trading lower this morning as a reaction to the U.S. dollar’s strength against the euro. Referring to yesterday’s surprisingly strong retail sales data, Saxo Bank senior manager Ole Hansen said, “Any sign of strength in the U.S. data is likely to create headwinds at the moment, that will be one of things to look out for as this is having an... Read More
Closing Gold & Silver Market Report – 5/13/2013
IS THE U.S. ECONOMY REALLY ON TRACK FOR RECOVERY? Gold felt pressure today with an increase in U.S. retail sales for the month of April and a stronger U.S. dollar compared to other foreign currencies. This week, Gold could be affected by several U.S. economic indicators that are expected, such as producer prices, the consumer price index, and consumer confidence. More recently, U.S. ec... Read More
Mid-Day Gold & Silver Market Report – 5/13/2013
FED’S EXIT STRATEGY DOMINATING HEADLINES Precious Metals prices are relatively flat, and U.S. stocks are trading lower as the Federal Reserve’s exit strategy for quantitative easing is dominating the headlines. Dan Greenhaus of BTIG LLC explained the stock market’s side of things by saying, “In the short term, anything that discusses the Fed’s exit stra... Read More
Morning Gold & Silver Market Report – 5/13/2013
GOLD DOWN DUE TO STRONGER DOLLAR; QE WINDING DOWN? The Gold price has experienced a drop in electronic trading this morning, reacting to a stronger U.S. dollar and news that retail sales in this country rose in April. Lower than expected industrial production and fixed-asset investment data out of China also helped push the metal down. The dollar’s increased performance comes ... Read More
Weekly Gold & Silver Market Recap – 5/10/2013
GOLD ENDS WEEK LOWER As the week comes to a close, Gold is sitting at a two and a half week low. On Tuesday, the first of numerous reports that affected the price of Gold came out of Europe regarding formation of a banking union. This has caused a belief that there will be less financial risk in the region, which has in turn caused a drop in s... Read More
Mid-Day Gold & Silver Market Report – 5/10/2013
STRONG DOLLAR CONTINUES TO DRIVE GOLD DOWN Gold’s continued slide below the technical level of $1,440 per ounce prompted another round of widespread sell-offs. "The market had been trading between $1,440 and $1,480 for a while, but attempts to break higher were unsuccessful and there was little bit of fatigue, with Read More
Morning Gold & Silver Market Report – 5/10/2013
STRONG DOLLAR CONTINUES TO DRIVE GOLD DOWN Gold’s continued slide below the technical level of $1,440 per ounce prompted another round of widespread sell-offs. "The market had been trading between $1,440 and $1,480 for a while, but attempts to break higher were unsuccessful and there was little bit of fatigue, with Read More
Morning Gold & Silver Market Report – 5/10/2013
GOLD SETTING UP ANOTHER WEEKLY LOSS The drop in Gold price continued overnight, putting the Precious Metal on pace to close lower for the week. The U.S. dollar gained against the yen, adding strength to Gold’s decline as a stronger dollar makes dollar-denominated commodities like Gold more expensive for holders of other currencies. BNP analysts Harry T... Read More
Closing Gold & Silver Market Report – 5/9/2013
GOLD RETREATS ON POSITIVE JOBS REPORT; CHINA MAY REQUIRE EASING Gold felt a pullback in price today as the U.S. weekly jobless claims fell to a five year low. Improved labor conditions tend to put pressure on the yellow metal due to the Federal Reserve’s preservation of a low federal funds rate as compared to the unemployment rate. If the Fed raises interest rates, the market perceives that as a sign they may also cut back on current monetary poli... Read More
Mid-Day Gold & Silver Market Report – 5/9/2013
GOLD, STOCKS TAKE BREATHER FOLLOWING RECENT RALLY Gold futures are down slightly as jobless claims have fallen to their lowest level since 2008. Propelled by retail investors and central banks, the recent demand for physical Gold is still running counter to continued fund liquidation in electronic markets, leaving the yellow metal in search of ... Read More
Morning Gold & Silver Market Report – 5/9/2013
ETF SELLING VS. PHYSICAL BUYING The Gold price slipped in overnight trading as the U.S. dollar strengthened against a basket of other currencies. Investors were also profit taking on a three-week rally of European shares, which reached multi-year highs, helping keep the dollar steady against the euro. The Gold price has rebounded more than $100 since the initial drop on April 16. Supplies remain tight in some parts of Asia but ETF outflows show no sign of slowing down, keeping pric... Read More
Closing Gold & Silver Market Report – 5/8/2013
GOLD REBOUNDS ON WEAK DOLLAR, ASIAN DEMAND Gold climbed to its highest level in almost one month following Tuesday’s losses. Support from a weaker dollar and strong demand for the metal in Asia have helped drive the price today. Along with a substantial influx of net Gold buying in China, which reached a record level in March, "Indian physical demand is also strong and the combined resp... Read More
Mid-Day Gold & Silver Market Report – 5/8/2013
GOLD PRICE GAINS ON STRONG DEMAND The Gold price is moving up today based on very strong sales numbers out of China. Last month, Gold imports into China more than doubled, setting an all-time high. One of the most impressive things to note is that all of this happened before Gold’s price dropped in April. “This is quite out of expectation ... Read More
Morning Gold & Silver Market Report – 5/8/2013
DR. DOOM: “HUGE RALLY IN RISK ASSETS” AHEAD Precious Metals prices have recovered yesterday’s losses, thanks to a weaker U.S. dollar and physical demand continuing to stay strong. Sharps Pixley said in a note, “Given the reduction of tail-risk in Europe, the rising labour market in the U.S. and the low inflation rate, investors prefer equities to Gold in the near term,” though many investors still like ... Read More
Closing Gold and Silver Report – 5/7/13
GOLD LOWERS ON EUROPEAN OUTLOOK The Gold price dropped today on news out of Europe regarding formation of a banking union. This has caused a belief that there will be less financial risk in the region, which has in turn caused a drop in safe haven assets such as Gold. “Any indication that Europe is working towards a resolution is bad for ... Read More
Mid-Day Gold & Silver Market Report – 5/7/2013
AUSTRALIA’S RATE CUT LEADS TO PROFIT TAKING After Australia’s surprising rate cut announcement this morning, U.S. stocks are climbing while the Gold price has remained relatively flat. Many Gold traders are choosing to take the profit on their positions as stocks approach all-time highs. Commerzbank AG analyst Daniel Briesemann said, “One might say that th... Read More
Morning Gold & Silver Market Report – 5/7/2013
ANALYST: GOLD IS THE BEST INFLATION HEDGE Precious Metals prices fell in overnight trading as Gold faces a key technical resistance level at $1,469.80 per ounce. A surprise rate cut in Australia put more pressure on the Gold price, as morning losses doubled after the news. Credit Suisse analyst Karim Cherif said, “The monetary ea... Read More
Closing Gold & Silver Market Report – 5/6/2013
ANALYSTS SECURE WITH GOLD; WILL MIDDLE EAST BATTLE AFFECT CRUDE OIL PRICES? Analysts believe the most recent correction in the Gold price has run its course after the metal’s second consecutive week of gains. Investors have noticed the movement metals have experienced and continue to feel confident purchasing hard assets. New concerns come from the U.S. Federal Reserve and its proposal... Read More
Mid-Day Gold & Silver Market Report – 5/6/2013
ANALYST: KEEP AN EYE ON SYRIA, ISRAEL Precious Metals prices dipped slightly in morning trading. One analyst attributed the recent rebound in the Gold market to demand for coins and bars, though one other world event is worth watching as well. “Recent good demand for physical Gold continues to underpin the market,” the analyst said. “Any escalation i... Read More
Morning Gold & Silver Market Report – 5/6/2013
GOLD OPENS ON POSITIVE NOTE Friday’s jobs report strengthened the U.S. dollar and put pressure on Gold, but the Precious Metal rebounded in overnight trading even though European markets are closed for a national holiday. Saxo Bank Vice President Ole Hansen said, “Technically we are in a nice upward channel since the mid April low.” He also noted that outflows from bullio... Read More
Weekly Gold & Silver Market Report for May 3, 2013
GOLD HOLDS STEADY AS EASING CONTINUES This week’s news was dominated by the central banks’ news of more monetary easing. Past rounds of easing have given support direction to the physical metals market, so investors were paying close attention. There was speculation at the beginning of the week. The eurozone is in recession, and momentum was building for the ECB to cut interest rates this week. If the bank cut rates, it would be the first time since July 2012. If they didn’t... Read More
Mid-Day Gold & Silver Market Report – 5/3/2013
GOLD STEADY AS JOBS REPORT BOOSTS STOCKS Precious Metals prices remain relatively unchanged during Friday’s session as physical demand continues to buoy the market following the release of strong jobs data. Though Gold has clawed its way back to regain half the ground it lost during its two session slide in the middle of April, the price se... Read More
Morning Gold & Silver Market Report – 5/3/2013
U.S. JOBS DATA UPBEAT; GOLD HITS TWO-WEEK HIGH Stock futures gained while Gold and Silver prices gave up early gains, including a two-week high, after the release of April’s U.S. jobs report. The report was better than expected, with the U.S. adding 165,000 jobs in April and the unemployment rate dropping to 7.5 percent. The unemployment rate is being helped by a 35-year low for labor-force participatio... Read More
Closing Gold & Silver Market Report – 5/2/2013
INVESTORS, ANALYSTS REMAIN BULLISH ON GOLD Precious Metals prices are on the rise with growing concern after the European Central Bank (ECB) cut its standard interest rate to a record low of 0.50 percent. When central banks lower interest rates, the market typically takes the opportunity to move into non-interest-bearing investments such as Gold. “When [ECB chief Mario] Draghi today comes along an... Read More
Mid-Day Gold & Silver Market Report – 5/2/2013
CENTRAL BANKS REMAIN COMMITTED TO STIMULUS The Gold price continues to rise today as the European Central Bank (ECB) has reaffirmed its commitment to accommodative monetary policy. Today’s news from the ECB follows Wednesday’s Federal Reserve report that indicated the U.S. stimulus program will remain unchanged in the near future. “Central-bank policy annou... Read More
Morning Gold & Silver Market Report – 5/2/2013
GOLD GAINS AS EUROPE CUTS RATES The European Central Bank (ECB) cut its main interest rate down to 0.5 percent. This highly anticipated move has had little effect on the European stock market and the value of the euro; however, the Gold market is moving upward on the news. “The ECB's decision to cut interest rates to 0.5 percent had looked ever more inevitable as latest data and survey evidence pointed to ongoin... Read More
Closing Gold & Silver Market Report – 5/1/2013
QE REMAINS UNCHANGED AS PHYSICAL DEMAND STILL STRONG The Gold price rebounded slightly from morning lows as the Federal Reserve expressed no intention of altering its ultra loose monetary policy. Though the Fed announced that the U.S. economy is experiencing modest expansion they did state “the Committee is prepared to increase or reduce the pace of its purchases t... Read More
Mid-Day Gold & Silver Market Report – 5/1/2013
GOLD PRICE LOWERS DESPITE NEGATIVE MARKET REPORTS Today the price of Gold and other Precious Metals has moved down while the market waits for the U.S. Federal Reserve to announce its game plan later today. There are reports that show which way the Fed may be leaning. “In last month's (Fed) meeting everyone was keen on finding out just how much the Fed board was disc... Read More
Morning Gold & Silver Market Report – 5/1/2013
FOMC EXPECTED TO STAY THE COURSE Precious Metals prices have dipped this morning as investors await a policy decision from the Federal Open Market Committee (FOMC) meeting, which will conclude today. After a string of mostly positive economic reports over the fall and winter, recent signs have suggested that the same dip experienced last spring and summer could be rep... Read More
Closing Gold & Silver Market Report – 4/30/2013
GOLD CLOSES APRIL DOWN 7.8 PERCENT The Gold price was up again today adding to recent gains but is closing out its worst month since December 2011. For the trading session, investors seemed reluctant to move much either up or down as they await a decision from the Fed and the ECB. Richard Hastings, macro strategist at Global Hunter Securities... Read More
Mid-Day Gold & Silver Market Report – 4/30/2013
WALL STREET THINKS NO END OF QE TILL 2014 CNBC conducted a survey in April and 40 of the 46 Fed Survey respondents said they believe asset purchases by the U.S. central bank will continue into next year. Participants also said that as the economy remains week with the sequester taking effect they doubt cutting the deficit right now is the best idea. John Kattar of Ardent Asset Advisors said, "The economy is strugg... Read More
Morning Gold & Silver Market Report – 4/30/2013
TWO-DAY FED MEETING BEGINS Gold and Silver prices gave up some gains in overnight trading, joining U.S. stock futures as mostly flat this morning. Investors are waiting to hear the result of a two-day Federal Open Market Committee policy meeting this week. Expectations for the meeting are for the Fed to continue w... Read More
Closing Gold & Silver Market Report – 4/29/2013
ONE ANALYSIS SHOWS GOLD’S LONG-TERM OUTLOOK IS SOLID Precious Metals prices are on the rise today as the market anticipates this week the European Central Bank (ECB) will confirm their decision to reduce interest rates and the Federal Reserve will stay on course with its bond buying program for the U.S. "Even as we think that Gold was in a bubble and prices could eventually come down, in the very near term with the FOMC (U.S. Federal Open Market C... Read More
Morning Gold & Silver Market Report – 4/29/2013
WILL ECB CUT RATES? It’s been five years since the onset of the global financial crisis, and since then, economies have been conditioned to rely upon their central banks for stimulus. The eurozone is in recession, and momentum is building for the ECB to cut interest rates this week. If the bank does cut rates, it would be the first time since July 2012. If they don’t cut rates, a cut in June is almost a certainty. Read More
Weekly Gold & Silver Market Recap – 4/26/2013
PHYSICAL BUYERS DRIVE GOLD MARKET After last week’s Gold and Silver prices hit a two year low, physical buyers jumped on the opportunity to buy at the reduced market pricing. That buying of Gold and Silver gave prices a boost this week. On Monday, the Gold price recovered some of the ground lost after last week’s major price drop as expectations for the metal remain positive among many investors. “As the price moved over $1,400 per ounce, physical traders, on the expectation... Read More
Mid-Day Gold & Silver Market Report – 4/26/2013
GOLD, SILVER REVERSE COURSE; EURO CRISIS SPREADING Gold and Silver prices took a sudden downward turn in morning trading. After Gold neared the intraday high of $1,484 per ounce, there is speculation that high volume day traders influenced such a drop. Analyst Chintan Karnani said, “The only reason is profit taking before the weekend and ... Read More
Morning Gold & Silver Market Report – 4/26/2013
GDP MISSES MARK; GOLD ON TRACK FOR WEEKLY GAIN The Gold price spiked briefly this morning after the release of the first quarter U.S. gross domestic product (GDP) report. Economists expected to see 3.0 percent growth, and investors were disappointed with a 2.5 percent reading. U.S. stock futures added to losses on the news. One potential result of this report is the continuation of the U.S. Federal Rese... Read More
Closing Gold & Silver Market Report – 4/25/2013
PRECIOUS METALS PRICES RECOVERING ON EUROPEAN CONCERNS Today Gold has seen its biggest gain of 2013 as the market anticipates the European Central Bank’s announcement of plans to cut interest rates. “Rate cut speculation ahead of next week's ECB meeting and the prospect of continued ultra loose US monetary policy following more weak economic figures in ... Read More
Mid-Day Gold & Silver Market Report – 4/25/2013
GOLD GAINS; CONTINUED QE LIKELY Gold is once again on the rise as strong physical demand was underpinned by the speculation of continued ultra-loose global monetary policy. Today’s two percent boost in the Gold price has driven the metal up enough to regain half of the ground it lost following last week’s considerable sell-off. Sentiment surrounding the... Read More
Morning Gold & Silver Market Report – 4/25/2013
GOLD RISES TO 10 DAY HIGH; PHYSICAL BUYING SURGES Gold climbed to its highest price in 10 days during overnight trading, hitting $1,447.66 an ounce. The increase is credited to a weaker dollar, firmer prices in other commodities and a ninth straight session of physical Precious Metals demand. Investors have also noted that Russian and Turkish central bank purchases, as... Read More
Closing Gold & Silver Market Report – 4/24/2013
PHYSICAL DEMAND CONTINUES AS EARNINGS PROJECTIONS WAVER Gold continued to rise today as disappointing economic data prompted a surge in demand for both paper and physical Precious Metals. As Gold is set to record losses of roughly 11 percent this month, many individuals remain undeterred as the old investment adage “buy low, sell high” has caused a Read More
Mid-Day Gold & Silver Market Report – 4/24/2013
GOLD MOVING UPWARD MID-WEEK The Gold price is moving toward its third gain in four days. One of the driving factors of the increase in the Gold price today is the U.S. durable goods report, which was lower than expected. “Overall, the weak tone of this report underscored the emerging narrative of a considerable slowing in economic growth momentum in Mar... Read More
Morning Gold & Silver Market Report – 4/24/2013
PRECIOUS METALS BOOSTED BY DEMAND, ECONOMIC DATA Precious Metals prices are on the rise this morning thanks to strong physical demand. Also boosting Gold and Silver’s appeal were a couple of economic reports, starting with a weak reading in German business confidence, which signaled more troubles for the largest eurozone economy. A separate re... Read More
Closing Gold & Silver Market Report – 4/23/2013
GOLD PRICE FINISHES LOWER DESPITE PHYSICAL DEMAND Gold and Silver prices fell today based on the strength of the U.S. dollar. "Gold is lower as well as other commodities, including crude oil and base metals, which fell after weaker than expected economic data out of China and Europe, which gave a boost to the dollar," Commerzbank analyst Carsten Fritsch said. Another reason for the fall is the continued selling of Gold exchange traded funds (ETF). 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.
