Precious Metals Market Reports
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
Mid-Day Gold & Silver Market Report – 4/23/2013
IS GOLD UNDERVALUED COMPARED TO FIAT MONEY? Gold’s price movement over the past few weeks has the market questioning whether the bull run is over. Compared to fiat money, the yellow metal continues to be undervalued, according to Hinde Capital CEO Ben Davies, who believes Gold has held its ground throughout history and is currently being pressured by paper money. Author Detlev Schlichter said, " Read More
Morning Gold & Silver Market Report – 4/23/2013
GOLD’S REBOUND ATTRIBUTED TO PHYSICAL DEMAND The Gold price is mostly flat in early morning trading, while Silver has given up yesterday’s gains. Monday was the third consecutive day of gains for Gold as the metal attempts to rebound from the sharp losses suffered thus far in April. Tocqueville Gold Fund Manager John Hathaway said, “... Read More
Closing Gold & Silver Market Report – 4/22/2013
PHYSICAL DEMAND PUSHES GOLD ABOVE $1,400 Physical demand for Gold pushed the price up for the third session in a row to end today above $1,400 an ounce. Gold’s rise was helped by data released Friday from the Commodity Futures Trading Commission that suggested many larger traders reduced their “short” bets that Gold prices would fall based on last we... Read More
Mid-Day Gold & Silver Market Report – 4/22/2013
GOLD BOOSTED BY PHYSICAL DEMAND
The Gold price has 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 U.S. dollars/ounce, physical traders, on the expectation that Gold could possibly correct back higher, rushed into Gold.” MKS Group Senior Vice President Frederic Panizzutti said. Read More
Morning Gold & Silver Market Report – 4/22/2013
GOLD SHOWING SIGNS OF RECOVERY The Gold price rose on Monday in overnight trading due to strong physical buying support after last week’s fall to a two year low. However, exchange-traded funds are still uneven after being trimmed down to the lowest levels in three years. Citi analyst David Wilson said, "We've been seeing some fairly good buying from t... Read More
Weekly Gold & Silver Market Report for April 19, 2013
BUYERS REACT TO LOWER METAL PRICES This week Gold & Silver prices started in the same way it ended last week, moving lower. The price for Gold officially closed below $1,400 Monday, experiencing its largest one-day drop since February 1983. Prices for Silver, Platinum, and Palladium saw significant drops as well. Silver in particular ended at a two-year low in aftern... Read More
Mid-Day Gold & Silver Market Report – 4/19/2013
RETAIL DEMAND FOR GOLD SOARS AFTER DRASTIC PRICE DIP As Gold struggles to regain some of the ground it lost after suffering major losses earlier this week, individual investors are taking advantage of the price slump with a frenzy of physical bullion buying. "It's just like the sales after Christmas," said Nigel Moffatt, treasurer at Perth Mint. "Anything y... Read More
Morning Gold & Silver Market Report – 4/19/2013
MARKET SHAKEUP AFFECTING STOCKS, GOLD Gold and Silver prices are still recovering from losses suffered early this week, though Precious Metals aren’t the only thing reeling from a market shakeup. Fawad Razaqzada of GFT Markets said that the Dow Jones Industrial Average is facing “its biggest weekly loss in almost a year, and some fu... Read More
Closing Gold & Silver Market Report – 4/18/2013
GOLD TO REMAIN FIRM; SEQUESTER HELPING ECONOMY YET? The Gold price attempted to stabilize today as investors continue to purchase physical metals and sell off exchange-traded funds (ETFs). The SPDR Gold Trust ETF dropped to a three-year low as investors feel more confident with physical possession of the metal. “What we have seen so far has been a tremendous appetite in terms of physical demand f... Read More
Mid-Day Gold & Silver Market Report – 4/18/2013
BLACKROCK REMAINS BULLISH ON GOLD LONG-TERM The Gold price has trickled up slightly today as the U.S. dollar sunk following weak economic data forecasting slow growth in the near future. Though the metal is currently hesitant to realize a strong rebound from the past week’s major sell-off, which saw Gold drop 13 percent in t... Read More
Morning Gold & Silver Market Report – 4/18/2013
PHYSICAL GOLD DEMAND STAYS STRONG
The Gold price rallied in overnight trading, up from its two year low of around $1,320. The nearly week-long sell off of the Precious Metal has created a unique situation for investors. The significant drop in price has triggered physical buying of Gold bars and coins in Asia while domestically Gold coins have been selling at a record ... Read More
Closing Gold & Silver Market Report – 4/17/2013
GOLD CONTINUES DECLINE ON PLETHORA OF ECONOMIC FEARS Precious Metals and the Dow Jones Industrial Average both suffered another session of losses today. In the wake of the poor performance of both asset classes, traders were drawn to the strength of the U.S. dollar, which rallied against a basket of competing currencies. A stronger U.S. d... Read More
Mid-Day Gold & Silver Market Report – 4/17/2013
GOLD AND SILVER COIN SALES SURGE The recent drop in the price of Gold and Silver has caused coin sales to surge. Sales of Gold American Eagle coins have risen more than 65% since Friday. Read More
Morning Gold & Silver Market Report – 4/17/2013
GOLD’S DIP SPURS PHYSICAL BUYING The Gold price recovered some early-morning losses, while the other Precious Metals have given up most of the previous day’s gains. As many investors are already aware, the recent dip in the price of Precious Metals has boosted the market for coins, bars and other physical items. One analyst said, “People are actually buying e... Read More
Closing Gold & Silver Market Report – 4/16/2013
GOLD PRICE CLOSES ON AN UPSWING After two days of losses for the price of Gold, today’s market turned in a positive direction. “We have had technical barriers broken in the past two days, while the overall macro environment has been moving away from the inflation bias ... and some institutional investors are rethinking their positions in commodities in general and Gold specifically,” Deutsche Bank analyst Daniel ... Read More
Mid-Day Gold & Silver Market Report – 4/16/2013
GOLD BOUNCES AFTER LOSS; FED PRESIDENT’S GLOOMY ECONOMIC OUTLOOK Gold experienced its largest drop since 1983 with Monday’s dip of 9.3 percent. The yellow metal’s price has been affected the past few days as some investors decided to liquidate their positions. At the moment, many analysts are uncertain where the market will bot... Read More
Morning Gold & Silver Market Report – 4/16/2013
ANALYST: METALS WILL REBOUND “JUST AS RAPIDLY” Precious Metals are rebounding from yesterday’s losses. Clifford Bennett, chief economist at The White Crane Group, believes that the fundamental factors that pushed Gold to record highs in 2011 remain. “I sincerely believe that the moment the now significant short position holders begin to take profit, that this market will rally at least 50 percent of the... Read More
Closing Gold & Silver Market Report – 4/15/2013
GOLD EXPERIENCES BIGGEST ONE-DAY DROP IN 30 YEARS The price for Gold officially closed below $1,400 today, experiencing its largest one-day drop since February 1983. Prices for Silver, Platinum, and Palladium saw significant drops as well. Silver in particular ended at a two-year low in afternoon trading, pushed down by fears that China’s disappointing eco... Read More
Mid-Day Gold & Silver Market Report – 4/15/2013
GOLD AT TWO YEAR LOW ON NEGATIVE CHINESE DATA During morning trading, the Gold price dropped below $1,400 for the first time in two years. Economists point to negative gross domestic product data out of China, seen as a sign of the slowing global economy, as the... Read More
Morning Gold & Silver Market Report – 4/15/2013
GOLD SELL-OFF CONTINUES The Gold market was heavily bearish on Friday, April 12, indicated by the 400 tons of Gold that sold on the New York COMEX alone. Today, the Gold price dropped more than $100 an ounce at one point during European trading. The bear market conditions seem to be fully in place due to recent cuts to price forecasts and ... Read More
Weekly Gold & Silver Market Report for Apr 12, 2013
GOLD REACTS TO ECONOMIC CONDITIONS As the week began, the price of Gold was mostly flat after positive gains last week. There is a continued move from commodities into equities, though many economists wonder how long this trend will last. “Equities are stronger, and that's why we are seeing some profit-taking in Gold, but losses could be contained as there is still a lot of uncertainty, especially in Europe, wher... Read More
Mid-Day Gold & Silver Market Report – 4/12/2013
GOLD DROPS ON ECONOMIC CONCERNS Today Gold fell to its lowest level since July 2011, as economists’ forecast for the yellow metal has fluctuated against certain factors. Gold’s response to economic data and U.S. and foreign currencies has adjusted over time and MKS Group’s Senior Vice President Frederic Panizzutti has noticed, saying ... Read More
Morning Gold & Silver Market Report – 4/12/2013
GOLD STILL FEELING PRESSURE FROM CYPRUS; EQUITIES ‘DEFYING GRAVITY’ Precious Metals prices are experiencing significant losses this morning, and that did not change on news of the worst retail sales in nine months. A drop of 0.1 percent was expected, but the U.S. Department of Commerce showed sales fell by 0.4 percent. Stock futures extended losses aft... Read More
Closing Gold & Silver Market Report – 4/11/2013
RETAIL, JOBS REPORTS LIFT STOCKS, GOLD The Gold price is up slightly as many investors are taking a breather following a large selloff Wednesday. One Precious Metals analyst stated, "Yesterday's price action confirmed that the bears are in near-term technical command. When you see a big price move in a market, ... Read More
Closing Gold & Silver Market Report – 4/11/2013
The Gold price is up slightly as many investors are taking a breather following a large selloff Wednesday. One Precious Metals analyst stated, "Yesterday's price action confirmed that the bears are in near-term technical command. When you see a big price move in a market, many times the following day you'll see a pause just a... Read More
Mid-Day Gold & Silver Market Report – 4/11/2013
GOLD RECOVERING ON PESSIMISTIC U.S. NEWS Gold experienced a price dip Wednesday and is slowly recovering today as U.S. weekly jobless claims fell. Generally, as the yellow metal's value falls, the jewelry industry and central banks tend to acquire more Gold holdings to take advantage of the pricing. Richard Hastings, a macro strategist at ... Read More
Morning Gold & Silver Market Report – 4/11/2013
JOBLESS CLAIMS DROP, WEIGH ON GOLD Gold and Silver prices dipped slightly after the release of the weekly jobless claims report, which showed a drop of 42,000 down to 346,000. Economists are closely monitoring the data, curious to see if the sequester is causing layoffs. Last month’s report showed an unexpected rise in claims, but this month’s number is more in line with what economists predicted. Impor... Read More
Closing Gold & Silver Market Report – 4/10/13
FED MINUTES SOFTEN METALS, BOOST STOCKS Precious Metals reacted with dips in both the Gold and Silver prices today as the release of the latest Federal Reserve minutes indicated a contingent of policymakers who expect to rein in the current strategy of monetary easing. The Fed news coupled with later reports that Cyprus plans to raise 400 million euros by selling off its surplus Gold reserves to help fund a porti... Read More
Mid-Day Gold & Silver Market Report – 4/10/13
GOLD PRICE REACTS TO CYPRUS SELLOFF, FED MINUTES The Gold price has fallen due to Cyprus’ intention to sell excess Gold reserves to help finance their economic bailout. It is not a large enough amount of Gold to affect the price on its own; however, it does open the door to speculations of other countries’ potential plans to deal with economic issues. “A ... Read More
Morning Gold & Silver Market Report – 4/10/2013
ALL EYES ON FED MINUTES Precious Metals are trading lower and stock futures are trading higher as markets await the release of the latest Federal Open Market Committee meeting’s minutes. With quantitative easing (QE) benefiting Precious Metals prices in the past, investors will be picking apart the minutes for clues as to whether ... Read More
Closing Gold & Silver Market Report – 4/9/2013
GOLD CLOSES ON HIGH NOTE Gold and Silver have both seen increases in their prices, with Gold reaching a one week high and Silver reaching a level not seen since January. “Gold is finding support from what [Federal Reserve Chairman Ben] Bernanke said and expectations of easing in China,” Frank Lesh of FuturePath Trading said. Gold and Silver... Read More
Mid-Day Gold & Silver Market Report – 4/9/2013
ECONOMISTS REMAIN BULLISH ON GOLD Gold is on the rise ahead of minutes to be released Wednesday from last month’s Federal Open Market Committee policy meeting and a weaker U.S. dollar. Saxo Bank Vice President Ole Hansen remains bullish on Gold and suggests investors are sitting on the sideline waiting for the yellow metal to move above its supported price of $1,600 before making an investment decision. “ Read More
Morning Gold & Silver Market Report – 4/9/2013
GOLD UP IN EARLY TRADING; FED’S QE EFFORTS “LARGE AND DULL HAMMER?” The price for Gold rose in early morning trading, pushed up as the dollar weakened compared to the euro. Because commodities become less expensive to investors holding other currencies when the dollar is weak, those commodities tend to experience gains, and this includes Precious Metals. Gold’s... Read More
Closing Gold & Silver Market Report – 4/8/2013
REPORT: PLATINUM, PALLADIUM TO RISE 22% BY 2014 Gold and Silver have remained relatively flat in afternoon trading, as stocks hit highs on the day. Ross Strachan, commodities economist at Capital Economics, believes that “falling production due to cost-related closures and potential labor unrest means that the prices of Pla... Read More
Mid-Day Gold & Silver Market Report – 4/8/2013
“MONETARY RED BULL” BRINGS CONCERN FOR ECONOMIC FUTURE Following a strong boost to Precious Metals prices Friday, the Gold price eased once again today as a stronger U.S. dollar put pressure on the metal. A weaker-than-expected jobs report last week was the main driver of Gold. “Gold was a major beneficiary of this data, as the lower-than-exp... Read More
Morning Gold & Silver Market Report – 4/8/2013
GOLD PRICE IN HOLDING PATTERN After ending last week on a high note, Gold has started this week relatively flat. There is a continued move from commodities into equities, though many economists wonder how long this trend will last. “Equities are stronger, and that's why we are seeing some profit-taking in Gold, but losses could be contained as there is still a lot of uncertainty, especially in Europe, where some ... Read More
Weekly Gold and Silver Market Recap for Apr 5, 2013
GOLD PRICES FLUCTUATE THROUGHOUT WEEK This week, Gold prices moved up and down on economic reporting and a major sell off of commodities. Weaker than expected manufacturing data released Monday put downward pressure on the dollar, causing a mild lift in the Gold price. The Institute for Supply Management (ISM) reflected a significant slowin... Read More
Mid-Day Gold & Silver Market Report – 4/5/2013
QE3 EXPECTED THROUGH 2013; GOLD HOLDS STEADY With a weaker than expected jobs report, the ongoing speculation of when the Federal Reserve would cut their bond buying program was silenced for now. Thomas Simons, money market economist at Jefferies & Co., said, “This data should snuff out any chatter that the Fed will taper or wind down the [quantitative easing] pu... Read More
Morning Gold & Silver Market Report – 4/5/2013
JOBS DATA DISAPPOINTS; GOLD, SILVER REBOUND Gold and Silver prices rebounded significantly while stock futures dipped in the moments following the release of the U.S. nonfarm payrolls report. Expectations for the number of jobs added in March were around 200,000, but the number came in at just 88,000. Earlier in the morning, UBS said in a note, “A significantly weaker-than-expected employment number could spark a power... Read More
Closing Gold & Silver Market Report – 4/4/2013
INVESTORS ANTICIPATE PAYROLL REPORT Gold continued to feel pressure today from the strengthening U.S. dollar. The market overlooked news coming from central bank policy meetings that saw the Bank of Japan state they will advocate further monetary easing as the European Central Bank holds steady to its policy. “We have a lot of liquidation of the Gold ETFs and the short position on the Com... Read More
Mid-Day Gold & Silver Market Report – 4/4/2013
JAPANESE EASING PROGRAM INFLUENCES GOLD, STOCKS The Gold price has fallen once again, heading for its third straight session of losses. One analyst said Thursday, “A stronger U.S. dollar index Thursday morning and more technical selling are keeping Gold market bulls on the ropes. The Gold market continues to feel the pressure from the exodus of investors from exc... Read More
Morning Gold & Silver Market Report – 4/4/2013
GOLD PRICES RETREAT ON STRONGER DOLLAR The Gold price dropped to a 10 month low overnight on the strength of the U.S. dollar. Similar commodities are also seeing price drops. The Silver price is at its lowest point since July and Platinum’s price is at a level not seen since August. Gold, a traditional safe haven investment, has missed the opportunity left open by ... Read More
Closing Gold & Silver Market Report – 4/3/2013
PRECIOUS METALS, EQUITIES PUMMELED AMID MAJOR COMMODITIES SELL-OFF Substantial losses in crude oil, swelling optimism regarding the state of the U.S. economy and a potential end to monetary easing in Japan have prompted commodities investors to sell-off their positions today, causing significant losses in Precious Metals for a second straight session. After falling ... Read More
Mid-Day Gold & Silver Market Report – 4/3/2013
GOLD PRICE LOWER IN A CAUTIOUS MARKET Gold’s price fell in today’s trading, adding to yesterday’s losses. Even as payroll data in the United States showed a slowdown for the month of March, it was not enough to move Gold’s price higher. With the rise of many equities markets in the U.S., investors seem to be moving towards riskier investments like stocks in lieu of Precious Metals. H... Read More
Morning Gold & Silver Market Report – 4/3/2013
ADP JOBS REPORT DISAPPOINTS Precious Metals prices are mostly flat this morning after the release of the ADP private-sector payrolls report disappointed investors. While economists predicted an addition of 215,000 jobs in March after a gain of 198,000 in February, the report showed that just 158,000 jobs were added last month. O... Read More
Closing Gold & Silver Market Report – 4/2/2013
GOLD PRICES SLIP 1.5 PERCENT Today has seen the largest one day drop in the value of Gold in more than a month. Silver also saw a sharp drop of more than two percent, which is an eight month low. As equities in the United States marketplace reach for all-time highs, Precious Metals struggle for support. “There is an overwhelming sentiment that growth will remain slo... Read More
Mid-Day Gold & Silver Market Report – 4/2/2013
GOLD DROPS 1 PERCENT; U.S. STOCKS AND EQUITIES RALLY Gold has fallen today as the U.S. dollar strengthened compared to the euro and investors showed interest in riskier assets. “You have a rally in equities and strength in the dollar and that seems to be the focus right now, which is putting gold in the back seat,” HSBC analyst Howard Wen said. “It has been the case since the start of the y... Read More
Morning Gold & Silver Market Report – 4/2/2013
GOLD WAITING FOR CATALYST Precious Metals have fallen this morning after better-than-expected data out of the eurozone was released. Another factor that is weighing on Precious Metals is upcoming policy meetings in Japan and the eurozone, with investors cautious of making big decisions before those events. Saxo Bank senior manager Ole Hansen said, “Gold has found the support it needs but at the same has... Read More
Closing Gold & Silver Market Report – 4/1/2013
GOLD SEARCHES FOR SUPPORT; ANALYSTS PROVE FED’S QE IS DEVALUING DOLLAR After the holiday weekend, Gold continues to trade in a confined range after the market received mixed U.S. economic data today. Investors are moving on to the next round of reports such as Wednesday’s private payroll jobs report and the Bureau of Labor Statistic’s nonfarm payrolls on Friday. “I think if we see any kind of tick up -- if we go 7.8 percent [unemployment rate] or even jump u... Read More
Mid-Day Gold & Silver Market Report – 04/01/2013
WEAK ISM REPORTS LIFT GOLD AS STOCKS FALL Weaker-than-expected manufacturing data has put downward pressure on the dollar today causing a mild lift in the Gold price. The Index for Supply Management (ISM) reflected a significant slowing of U.S. manufacturing expansion for the month of March. From a level of 54.2 percent in February, the... Read More
Morning Gold & Silver Market Report – 04/01/2013
MARKETS UP AHEAD OF KEY DATA Investors will be watching to see how this morning’s manufacturing and other data will affect the two major U.S. stock indexes, which have been pushing record highs nearly every day. ISM manufacturing survey data from March is due out today and is expected to show a fourth consecutive month of improvement. The weeks’ worth of data ends on Friday with the U.S. jobs report from March. Read More
Closing Gold & Silver Market Report – 3/28/2013
GOLD SLIDES BELOW SUPPORTED LEVELS Gold lost its momentum today, dipping just below its support price of $1,600 on the last trading day of the quarter. The safe haven appeal has disappeared for the moment as expected protesting in Cyprus over the reopening of their banks did not occur. “Prices are likely to stay depressed in coming sessions as the situation in Cyprus is expected to slowly get bett... Read More
Mid-Day Gold & Silver Market Report – 3/28/2013
GOLD DOWN ON PEACEFUL CYPRIOT BANK OPEN Gold is settling back below $1,600 as the anxiety surrounding Cypriot banks has been eased following today’s very civil bank reopening. “Gold market was anticipating safe haven demand once Cypriot banks opened, and apparently it has been fairly calm per reports,” Global Hunter Securities’ Managing Director Jeffrey Wright said. Read More
Morning Gold & Silver Market Report – 3/28/2013
CYPRUS BANKS REOPEN, GOLD HOLDS STEADY After nearly two weeks, Cyprus’ banks reopened today with strict limits on cash withdrawal amounts. Early information is that the limits are working and there have been few, if any, signs of panic. Today’s reopening has had little impact on the markets, with the euro moving up just slightly against the dollar. Any positive news is welcome as the region’s shared currency is on pace for a 2.8 percent first quarter decline. Read More
Closing Gold & Silver Market Report – 3/27/2013
GOLD UP; PLATINUM, PALLADIUM LOOK TO RALLY After four straight sessions of losses, Gold is up today as the safe haven appeal of Precious Metals is currently resonating with investors. “Gold looked attractive today as a safe-haven asset in reaction to the decline in equity markets and in anticipation of Cypriot banks reopening on Thursday,” Global Hunter ... Read More
Mid-Day Gold & Silver Market Report – 3/27/2013
GOLD MOVES UP ON UNCERTAINTY As we have reached the midway point of the week, the Gold price has hopped back over the $1,600 level. Monday saw a slight price dip due to the last minute bailout agreement in Cyprus. However, as details of said agreement came to light, investors’ uncertainty returned. Once again, the mix of positive and negative economic... Read More
Morning Gold & Silver Market Report – 3/27/2013
GOLD REGAINS $1,600 ON EURO WORRIES Gold is looking to reclaim the $1,600 level this morning thanks to worries in the eurozone, though it is fighting a battle with upbeat U.S. economic data, as home prices and durable goods have improved. Dominic Schnider of UBS Wealth Management said, “When we get into the second half of the year, there will be growth and there will also be price pressure, which should... Read More
Closing Gold & Silver Market Report – 3/26/2013
GOLD DOWN ON POSITIVE ECONOMIC REPORTING At the close of business here in the United States, the price of Gold has ended down, closing below $1,600 an ounce for the first time in 10 days. Gold has struggled to find direction as a mixed bag of good and bad financial data has been released. Read More
Mid-Day Gold & Silver Market Report – 3/26/2013
INVESTOR GOLD HOLDINGS DECREASE; HOUSING MARKET CONFIDENCE RISING As the U.S. economy shows growth and stability from optimistic data, the amount of Gold investors are adding to their portfolios has dropped. Commodities research firm CPM Group said in a statement, “Present sentiment has reduced the urgency” to add Gold to portfolios after the price average rose to a record last year. Read More
Morning Gold & Silver Market Report – 3/26/2013
GOLD PICKED AS BEST INVESTMENT IN CNBC SURVEY The latest CNBC All-America Economic Survey showed that Gold is still in favor with most investors. The survey showed that Americans’ confidence in investments is rising overall, but not exclusively in stocks. When asked about the best investment, 35 percent of respondents picked Gold, as opposed to 21 percent who picked stocks. Gold was also voted the best investment in t... Read More
Closing Gold & Silver Market Report – 3/25/2013
GOLD FEELING PRESSURE OF CYPRUS Gold is holding above $1,600 even as concerns develop over the new Cyprus agreement. “Although there is still some uncertainty around the details of the Cyprus deal, the assumption is that it will now be finalized and will meet the conditions that the EU expected and that puts pressure on Gold,” SocGen analyst Robin Bhar said. Analysts suggest there should have been... Read More
Mid-Day Gold & Silver Market Report – 3/25/2013
STOCKS CUT MORNING GAINS ON CYPRUS BAILOUT CONCERNS The last minute bailout to keep Cyprus out of bankruptcy and in the European Union has drawn investors away from Gold toward the dollar and higher risk assets. Though the metal has been retracting recently, net long positions for Gold have increased for the second straight week. Commerzbank analysts stated... Read More
Morning Gold & Silver Market Report – 3/25/2013
CYPRUS BAILOUT RALLIES MARKETS, LOWERS GOLD The stock market is heading for a positive open this morning after eurozone financial leaders secured an 11th hour deal bailing out Cyprus. ICAP in London strategist Chris Clark said, “The market’s reaction to the deal has been positive but hardly amounts to a tidal wave of relief.” Last week, trading was overshadowed by t... Read More
Weekly Gold & Silver Market Recap - 3/22/2013
GOLD PRICES REACT TO CYPRUS BAILOUT
The tiny European island nation of Cyprus dominated many of the financial headlines this week, and as of today there has been no resolution to the country’s financial crisis. Cyprus is in the midst of a financial collapse and is in dire need of aid from larger international banks. The European Union has stepped up and is willing to assist in financing a bailout plan. However, the EU is requiring that Cyprus pay back part of the loan ... Read More
Mid-Day Gold & Silver Market Report – 3/22/2013
U.S. MINT ON PACE FOR RECORD SALES YEAR Precious Metals prices are mostly flat in morning trading, keeping nearly the same position as this morning’s prices. Silver’s movement today is the largest drop for the metal in three weeks. The main news driving prices continues to be the situation in Cyprus. Lawmakers in the eurozone country continue ... Read More
Morning Gold & Silver Market Report – 3/22/2013
CYPRUS STILL ON UNCERTAIN FOOTING Cypriot lawmakers are voting today on bills that would strike a deal with European partners after talks with Russia fell apart. The controversial tax on bank deposits is the key issue that parliament will debate. Banks in Cyprus reopen on Tuesday, and there is a real concern that capital will begin to flow out of the beleaguered country. The European Union issued the Cypriot parliament an ultimatum saying they need to raise 5.8 billion euro... Read More
Closing Gold & Silver Market Report – 3/21/2013
NEW PROPOSAL IN WORKS FOR CYPRUS Gold is close to a one-month high as the market has been alarmed by worldwide financial decisions this week. Both the Cyprus bailout and confirmation of the United States Federal Reserve’s continued monetary easing have been reason enough to provide a boost for Gold. “The overnight evaluation of the FOMC (Federal Open Market Committee) statement is being treated a little more bullishly than it was than the first knee-jerk analysis,” HSB... Read More
Mid-Day Gold & Silver Market Report – 3/21/2013
WEAK ECONOMIC DATA, CONTINUED CYPRUS WOES BOOST PRECIOUS METALS
Gold has risen slightly today as concerns over Cyprus and the potential repercussions of the nation’s current predicament cast worrisome eyes on the plight of the eurozone. “There are reports that Cyprus might prefer to exit the euro than accept the conditions of the European Union for a bailout,” said Chintan Karnani, an independent bullion analyst based in New Delhi. “This will result i... Read More
Morning Gold & Silver Market Report – 3/21/2013
GOLD MOVES UP ON JOBLESS CLAIMS This morning all eyes are focused on the United States jobless claims report. While the claims did move up, the move was not as much as anticipated. Analysts had expected a rise of about 10,000 claims; in reality it was closer to 2,000 claims. This report lends cause for the U.S. Federal R... Read More
Closing Gold & Silver Market Report – 3/20/2013
GOLD DOWN SLIGHTLY DESPITE CONTINUED EASING
Gold is down for the first time in five sessions even as Federal Reserve Chairman Ben Bernanke promised to uphold the Fed’s $85 billion in monthly bond purchases. Few are surprised by the Fed’s announcement as the current unemployment rate of 7.7 percent is still far from the 6.5 percent target. Bernanke has committed to maintain the current stimulus program until the U.S. jobless rate has reached the desired target. So... Read More
Mid-Day Gold & Silver Market Report – 3/20/2013
BRITISH GROWTH STALLS; U.S. STOCKS SURGING Three months ago British finance minster George Osborne predicted England’s economy would be growing by about 1.2 percent. Today Osborne was forced to revise his prediction to reflect the more accurate 0.6 percent the country is on pace to meet. Regardless of the correction, he vowed to stick to the course of austerity. “It is taking longer t... Read More
Morning Gold & Silver Market Report – 3/20/2013
FED STATEMENT DUE THIS AFTERNOON; CYPRUS’ ECONOMIC FUTURE IN QUESTION Gold and Silver prices are mostly flat again today, though Gold appears to be holding at the key $1,600 level. Stock futures are gaining this morning as investors look to the Federal Open Market Committee statement expected this afternoon. Many experts do not expect a major financi... Read More
Closing Gold & Silver Market Report – 3/19/2013
GOLD PRICES UP FOR SECOND STRAIGHT DAY As day two of the week comes to an end, the price of Gold has increased for the second day in a row. There has been quite a bit of news out of Europe that has investors leery of economic uncertainty, and with that came an increased value in the Gold market. The main focus has been on the small nation o... Read More
Mid-Day Gold & Silver Market Report – 3/19/2013
MARKET REMAINS QUIET AHEAD OF FED MEETING The market has remained stable this morning as it prepares for the Federal Reserve’s two-day policy meeting. Expectations are that Chairman Ben Bernanke will announce the desire to pullback easing measures for the U.S. economy. “The market is very quiet ahead of the Fed meeting,” Ad... Read More
Morning Gold & Silver Market Report – 3/19/2013
FOMC BEGINS TODAY; CYPRUS TAX VOTE EXPECTED Precious Metals are mostly flat this morning with Gold and Silver taking a slight lean to the downside. The latest policy meeting of the Federal Open Market Committee begins today. HSBC said in a note, “(We) expect the FOMC to reaffirm its commitment to the current quantitative easing policy and to offer no hint that it will alter the policy in the near term … Uncertainties s... Read More
Closing Gold & Silver Market Report – 3/18/2013
EUROZONE WORRIES PUSH INVESTORS TO HARD ASSETS SUCH AS GOLD Concerns lingered throughout the day after the eurozone’s agreement to bailout Cyprus for an estimated $10 billion euros and a requirement for the country’s savers to forfeit up to 10 percent of their deposits. The bailout provided gains to both the U.S dollar and to Gold as investo... Read More
Mid-Day Gold & Silver Market Report – 3/18/2013
CONCERNS OVER CYPRUS TAX CAUSES GOLD BOOST
Concerns over the European debt crisis intensified Monday due to a tax charged upon Cypriot bank deposits in an effort to bailout the struggling nation. Significant anxiety is permeating markets today following the news from Europe causing downward pressure to the Dow Jones and S&P 500. However, fear has p... Read More
Morning Gold & Silver Market Report – 3/15/2013
EUROZONE TURMOIL RETURNS; GOLD ABOVE $1,600 Cyprus and consequently the euro are back in the news as international lenders agreed to approve a 10 billion euro ($12.9 billion) bailout for Cyprus. This time the bailout comes with a price tag; Cyprus must pay for part of its bailout through an imposed tax on bank deposits. The tax is expected to raise about 5.8 billion euro, but the precedent is setting a tone of fear in other troubled countries such as Italy and Spain. The ne... Read More
Weekly Gold & Silver Market Recap – 3/15/2013
GOLD PRICES END WEEK MOVING UPWARDS As the week got started there was not much action in the Gold or Silver markets. “It's a real lackluster day,” HSBC Bank USA’s Chief Commodities Analyst James Steel said. “We'v... Read More
Mid-Day Gold & Silver Market Report – 3/15/2013
INFLATION HIGHEST IN THREE YEARS; CONSUMER SENTIMENT DROPS According to the U.S. Department of Labor, February’s increase in gasoline prices was an unexpected primary contributor to the 0.7 percent increase in the consumer price index (CPI), accounting for about three quarters of the increase. The Department of Labor is reporting that excluding the spike in g... Read More
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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.
