Precious Metals Market Reports
Mid-Day Gold & Silver Market Report – 2/6/2013
GOLD PRICE HOLDS STEADY AS DEMAND STAYS UP The price of Gold has remained relatively flat today. It has raised a small amount on news out of Europe concerning more negative economic reports. A major issue facing the Precious Metals market is a lack of direction. The reports from the United States show an improvement in many major areas such as employment and durable goods, however, looming budget cuts at the firs... Read More
Morning Gold & Silver Market Report – 2/6/2013
BOND-FUND CHIEF PICKS GOLD Precious Metals prices are fluctuating this morning, with Gold flat, Silver and Palladium down, and Platinum up more than one percent. PIMCO’s Bill Gross picked Gold as his Number One investment for 2013. He said, “The real risk to the financial markets is the marginal proclivity of investors to put their money in real assets, or under the mattress. Read More
Closing Gold & Silver Market Report – 2/5/2013
GOLD PRICE LOWERS ON POSITIVE ECONOMIC REPORTS New reports today from major economies around the world shed a positive light on the economic outlook. The United States, China and the United Kingdom saw an expansion in their respective service industries. “We are starting to see more evidence of an improving labor market.... Read More
Mid-Day Gold & Silver Market Report – 2/5/2013
ECONOMIST FORESEES GOLD RETURNING AS OFFICIAL FINANCIAL ASSET Analysts are trying to identify Gold’s next move and what might trigger it. “Gold is historically positively correlated to the euro,” Precious Metals strategists at HSBC said. “The bullion market may focus on the upcoming European Central Bank meeting and its corresponding euro reaction, we b... Read More
Morning Gold & Silver Market Report – 2/5/2013
PHYSICAL DEMAND SUPPORTS GOLD PRICE; NEXT CRISIS CAUSED BY THE DOLLAR The Gold price is relatively flat this morning, while the Silver price is enjoying a modest gain. To go along with physical demand of the metal, “Gold has been following the euro/dollar movements, which are playing a big part on an intraday basis,” according to Standard Bank’s Walter de Wet. He continued, “On a more fundamental side, ... Read More
Closing Gold & Silver Market Report – 2/4/2013
GOLD FINDS SUPPORT; U.S. STOCK MARKET IMPACTED BY EUROPE Gold received support today from the Chinese New Year that begins Saturday, Feb. 9, which is providing demand for the yellow metal. “Physical demand is reasonably good because the Chinese New Year is round the corner and will continue to hold the market this week, but next week Asian markets will be on holidays and that source of support will disappear,” Bernard Sin, senior vice president at MKS SA, said. “ Read More
Mid-Day Gold & Silver Market Report – 2/4/2013
GOLD UP SLIGHTLY WHILE S&P REALIZES LARGEST DIP OF 2013 The Gold price is trickling up today, though recent U.S. economic recovery data has temporarily stalled the climb of the yellow metal. The Gold price has remained trapped in a tight range over the last several weeks. Chen Min, an analyst at Jinrui Futures, said, “Unless we see surprisingly good news for Gol... Read More
Mid-Day Gold & Silver Market Report – 2/4/2013
GOLD UP SLIGHTLY WHILE THE S&P REALIZES ITS LARGEST DIP OF 2013 The Gold price is trickling up today, though recent U.S. economic recovery data has temporarily stalled the climb of the yellow metal. The Gold price has remained trapped in a tight range over the last several weeks. Chen Min, an analyst at Jinrui Futures said, "Unless we see surprisingly good ... Read More
Morning Gold & Silver Market Report – 2/4/2013
POLITICAL TURMOIL RETURNS TO EUROPE; GOLD POISED FOR MORE GAINS Investors have their eye on Europe as there are signs of returning political turmoil. Spanish government bonds rose as Spain’s prime minister is working to contain a corruption scandal. Later this month, Italy will have a general election, and investors will watch the actions of that new government. There is concern the next government will change economic measures already in place. Read More
Weekly Gold & Silver Market Recap – 2/01/2013
GOLD ENCOUNTERS SOME KEY FACTORS THIS WEEK The week began with a slight downward movement in Precious Metals prices as the U.S. dollar regained some ground against foreign currencies. The market anticipated a shift in prices from a heavy slate of U.S. data that was released throughout the week along with the Federal Reserve announcement on further stimulus measures. In... Read More
Mid-Day Gold & Silver Market Report – 2/01/2013
SENATE SUSPENDS DEBT CEILING, DOW BREAKS 14,000 The U.S. Senate approved legislation today suspending the debt ceiling until May 18, 2013. This gives the U.S. the ability to borrow any amount until that day in May. Those additional debt obligations will be added to the current debt limit of $16.4 trillion. This brings to light the March 1 deadline for sequ... Read More
Morning Gold & Silver Market Report – 2/1/2013
JOBS DATA DISAPPOINTS AS UNEMPLOYMENT RISES Gold and Silver prices jumped this morning after the release of U.S. payrolls data. In a report before the release, UBS said, “Current price levels, which are essentially where Gold hovered before the U.S. GDP print, suggest that expectations are once again skewed towards positive payrolls figures.” The prices of... Read More
Closing Gold & Silver Market Report – 1/31/2013
GOLD DOWN ON PROFIT TAKING; STOCKS FALL AFTER STRONG JANUARY Today, Gold gave back all gains earned during its two session rally as profit taking caused the metal to remain range bound, pending more abrupt economic news. Though Precious Metals have experienced recent dips from projected price targets for the end of 2012 and into 2013, metal analysts at HSBC st... Read More
Mid-Day Gold & Silver Market Report – 1/31/2013
GOLD’S REACTION TOWARD FED STATEMENT IS PESSIMISTIC Precious Metals are reacting to investors frustrated by Gold’s movement yesterday after the Fed announced they would continue their bond buying program. Analysts suggest Gold moved ahead of the anticipated statement from the Fed as the continued bond buying had been forecasted. Investors are patiently waiting Friday’s nonfarm payroll data to show how the U.S. l... Read More
Morning Gold & Silver Market Report – 1/31/2013
UNEMPLOYMENT NUMBER JUMPS; GOLD RETREATS The number of Americans seeking unemployment assistance rose last week. This rise comes on the heels of two weeks of decreased applications to five year lows. As a contrast, the Labor Department says spending rose by 0.2 percent, which reflects the fact that, in December, incomes rose 2.6 percent, the most they have in 8 years. The Gold price is falling o... Read More
Closing Gold & Silver Market Report – 1/30/2012
SHRINKING GDP, CONTINUED FED EASING PUSH GOLD HIGHER In response to news that the economy shrank in the last quarter of 2012, the price for Gold gained to end higher. With the Fed intending to continue its aggressive easing policies, both Gold and Silver saw increases during the day’s trading. GFT Markets technical analyst Fawad Razaqzada believes “that investors still see Gold an... Read More
Mid-Day Gold & Silver Market Report – 1/30/2013
GOLD BOOSTED BY NEGATIVE ECONOMIC REPORTS Gold and other Precious Metals benefited today following reports of a U.S. economic contraction in the fourth quarter of 2012. According to the first of three reports made public by the Commerce Department, gross domestic product fell by a 0.1 percent annual rate in the final quarter. This initial report is well below the f... Read More
Morning Gold & Silver Market Report – 1/30/2013
GDP DATA SHOCKS MARKETS; ECONOMY SLOWING Precious Metals prices received an unexpected boost this morning, as the fourth quarter gross domestic product (GDP) release shocked the markets. Expectations across the board were that GDP would show slow growth for the economy, but now analysts are thinking that additional monetary stimulus may be needed as the drop was much more than expected. Some are specula... Read More
Closing Gold & Silver Market Report – 1/29/2013
GOLD PRICE GOES HIGHER ON FED SPECULATION The Gold price rose to the highest level in two weeks, mostly based on the view that the United States Federal Reserve will continue their monetary easing. “The consensus is that the Fed will continue with the easing until the growth gains traction,” Chuck Butler, president of EverBank World Markets... Read More
Mid-Day Gold & Silver Market Report – 1/29/2013
NEGATIVE U.S. CONSUMER CONFIDENCE LIFTS GOLD Precious Metals prices are on the rise as pessimistic U.S. economic news was released today. Economists predicted consumer confidence would slightly drop to 64, but shockingly it fell to 58.6 in December. Consumer concern comes after U.S. politicians reached an agreement to avoid the fiscal cliff, which increased taxes for many Americans and left budget decisions to be handled at a later date. “ Read More
Morning Gold & Silver Market Report – 1/29/2013
LOWER METAL PRICES SPUR BUYING Gold and Silver prices are rising this morning ahead of a Federal Reserve meeting and statement coming later in the week. Commerzbank analyst Eugen Weinberg said, “After the losses of the past few days, there is some buying interest … we are likely to keep seeing some buying on the dips but not strong enough to support ... Read More
Closing Gold & Silver Market Report – 1/28/2013
GOLD PRICES DOWN WITH POSITIVE ECONOMIC NEWS Gold prices ended lower today based on potential news from the United States Federal Reserve and positive economic reports. In China, industrial profits rose in December for the fourth month in a row. In the U.S., orders for durable goods rose for the fourth month as well. “The global backdrop has improved,” Economist Peter Newland, for Barclays Plc., said. “There should be much scope for businesses to contribute to growth.” Read More
Mid-Day Gold & Silver Market Report – 1/28/2013
GOLD AND STOCKS RELATIVELY EVEN ON MIXED DATA Gold is trading flat today following three straight sessions of losses. A stronger dollar and mixed economic data have caused investors to temporarily back-off from the safe-haven appeal of Precious Metals. “There is some confusion in the minds of almost all Gold and Silver traders,” Phil Storer, director of trading at ... Read More
Morning Gold & Silver Market Report – 1/28/2013
U.S. DOLLAR SHOWING STRENGTH; GOLD HOVERING The dollar is regaining some ground against foreign currencies. Late Friday, the WSJ Dollar Index was up against the broad basket of six currencies and in overnight trading the ICE dollar index also showed gains. Crédit Agricole chief global forex strategist Mitul Kotecha said, “a heavy slate o... Read More
Weekly Gold & Silver Market Recap – 1/25/2013
GOLD ENDS WEEK LOWER; OUTLOOK STILL POSITIVE On Tuesday the United States financial markets started a shorten week, and Gold prices hit the highest point since Dec. 17 of last year. Early in the day, news of Japan continuing its monetary easing, followed by two different reports from the U.S., gave the market a boost. Existing home sales and weak manufacturing r... Read More
Mid-Day Gold & Silver Market Report – 1/25/2013
CHINA SEES POTENTIAL IN SILVER; HOME SALES DIP The commerce department today said that home sales dropped 7.3 percent last month, a number below analysts forecasts. This number may be taken with a grain of salt because this government data is subject to revision. Case in point, November 2012’s numbers have been adjusted up making it the best month since November 2010. Economists think home building added to... Read More
Morning Gold & Silver Market Report – 1/25/2013
GREED ENTERING THE MARKETPLACE? Gold and Silver prices are trading slightly lower this morning, and Henrik Drusebjerg of Nordea Bank believes we may be seeing a shift in investor viewpoints. He said, “I guess there’s a tendency to a different mood among investors that has been very dominated by fear of different areas like the debt crisis and the fiscal cliff. Now it seems the fear’s more like, ‘what could I miss? Could I miss any returns if I remain too careful in... Read More
Closing Gold & Silver Market Report – 1/24/2013
MORGAN STANLEY REMAINS BULLISH FOR GOLD; SPAIN’S CHALLENGING UNEMPLOYMENT RATE A strengthened U.S. dollar turned Gold’s price down today as the Jobless claims fell for the second straight week. However, Morgan Stanley is optimistic for the yellow metal with a bright forecast of $1,720 for 2013 and $1,600 in 2014. “We expect that very low nominal interest rates, an ongoing commitment to QE3 and a below-par recovery with attendant pressure on the dollar will still combine to Read More
Mid-Day Gold & Silver Market Report – 1/24/2013
GOLD STILL SEEKING TO BREAK THROUGH $1,700 The Gold price has fallen again today as the metal continues to struggle to break through the $1,700 barrier. Following the temporary deferment of U.S. debt ceiling discussions and better-than-expected initial jobless data, Gold has pulled back further from one-month highs. However, many analys... Read More
Morning Gold & Silver Market Report – 1/24/2013
GOLD DIPS - JOBLESS CLAIMS DOWN Analysts had expected an increase in jobless claims but the number of Americans filing for unemployment benefits fell to its lowest level since January 2008. This is the second straight week of falling claims. The unemployment rate held steady at 7.8 percent. Although is appears many companies are not laying off workers as anticipated, they are adding new jobs at a slow ... Read More
Closing Gold & Silver Market Report – 1/23/2013
GOLD FALLS OFF MONTH HIGHS; DEBT CEILING SUSPENDED UNTIL MID-MAY Gold is down today following last session’s gains which had boosted the metal to its highest level in one month. Liberal fiscal policy in Japan and a weaker dollar, following disappointing economic data, were the major drivers in Gold’s recent run-up. Though today’s dip was not a major one, Gold is h... Read More
Mid-Day Gold & Silver Market Report – 1/23/2013
GOLD DEMAND HIGH; GLOBAL GROWTH FORECAST CUT Gold demand for this time of year is historically low. However, this year has started off with a higher than average demand for the yellow metal. “It was strong in November and that’s normally a usual seasonal pattern that we see coming through from Indian post-monsoon, wedding season buying. The fa... Read More
Morning Gold & Silver Market Report – 1/23/2013
VOTE EXPECTED TODAY ON DEBT CEILING The Gold price is relatively flat while the Silver price is on an upswing this morning. Many investors seem to be waiting on the results of a vote to temporarily increase the debt ceiling until a longer term resolution can be put in place. Regarding the long-term picture for the Gold price, Standard Bank analyst Walter de Wet said, “We continue to see a lot of monetary ea... Read More
Closing Gold & Silver Market Report – 1/22/2013
GOLD PRICE HITS A HIGH TODAY As the United States financial markets start a shorten week, Gold price hit its highest point since December 17 of last year. Early in the day, news of Japan continuing its’ monetary easing, followed by two different reports from the U.S., gave the market a boost. Existing home sales and weak manufacturing reports from the Federal Res... Read More
Mid-Day Gold & Silver Market Report – 1/22/2013
U.S. DOLLAR DOWN AS YEN, EURO RECEIVE BOOST Gold prices rose after the Bank of Japan announced its new monetary easing strategy. “Bank of Japan move signals possible inflation down the road as well as continued return to Gold [in the] first weeks of the year by funds,” George Gero, Precious Metals strategist at RBC Wealth Management, wrote... Read More
Morning Gold & Silver Market Report – 1/22/2013
BANK OF JAPAN TO EASE, SUPPORTING GOLD PRICE Gold and Silver prices are trading flat this morning, held down by a weak U.S. stock market. Helping the price of Gold, however, is the announcement by the Bank of Japan that further easing is on its way. GFMS analyst Rhona O’Connell said, “At the international level, it’s another expansionary element to add to the U.S.’ and EU’s actions; not an earth-mover, ... Read More
Weekly Gold & Silver Market Recap – 1/18/2013
GOLD MOVES UP WITH ASSISTANCE, U.S. MINT SILVER SHORTAGE It is well know that the price of Gold can be affected by many sources, and this week was no different. Monday the price of Gold got a boost from economies around the globe. The Gold price rose overnight as the U.S. dollar lost ground against world currencies. Expectations of aggressive mon... Read More
Mid-Day Gold & Silver Market Report – 1/18/2013
U.S MINT SELLS OUT OF SILVER AMERICAN EAGLES The United States Mint may not be a common conversation topic around the dinner table, but so far this month, the 6,007,000 ounces of Silver they have sold has been enough to suspend Silver sales. In essence, the Mint has sold out of Silver coins. We have yet to reach the record of 6.42 million ounces ... Read More
Morning Gold & Silver Market Report – 1/18/2013
CHINA’S ECONOMY, U.S. MANUFACTURING KEEP METALS FLAT Gold and Silver are mostly flat this morning after economic data showed China’s economy grew 7.9 percent in the fourth quarter compared to last year, which was well above forecasts. The safe haven appeal of Gold received a boost after the Federal Reserve Bank of Philadelphia’s regional m... Read More
Closing Gold & Silver Market Report – 1/17/2013
OPTIMISTIC U.S. NEWS BOOSTS METALS; AAA STATUS IN JEOPARDY Precious Metals prices edged up today as the Labor Department confirmed weekly unemployment benefit applications dropped to the lowest level since January 2008. Also, the Commerce Department stated that new home construction rose by 12.1 percent in December, proving the U.S. economy is experiencing growth. U.S. credit rating agency Fitch announced earlie... Read More
Mid-Day Gold & Silver Market Report – 1/17/2013
PLATINUM AND PALLADIUM ON A RUN; S&P AT HIGHEST LEVEL IN OVER FIVE YEARS Optimistic U.S. housing and jobs data has boosted stocks and increased the appetite for commodities; thus, Platinum and Palladium are trading at their highest levels in months. Platinum and Palladium have lived in the relative shadow of Gold and Silver as their application is largely indust... Read More
Morning Gold & Silver Market Report – 1/17/2013
SPANISH DEBT AUCTION A SUCCESS; PLATINUM TOPS GOLD If you are looking for excitement in the U.S. stock market, you may be left wanting. Futures on the Dow and the S&P are not showing us much this morning; however, the euro took a stronger position against the dollar and yen in overnight trading when a Spanish debt auction lifted sentiment toward riskier a... Read More
Closing Gold & Silver Market Report – 1/16/2013
GLOBAL GROWTH OUTLOOK AFFECTS GOLD; GERMANY REQUESTS GOLD RESERVES The price of Gold fluctuated slightly as the World Bank predicted weaker global growth for 2013. “Today's setback was World Bank lowering growth expectations, anti inflationary somewhat,” George Gero, Precious Metals strategist at RBC Wealth Management, wrote in a note Wednesday.... Read More
Mid-Day Gold & Silver Market Report – 1/16/2013
GOLD FORECAST CHANGES; GOVERNMENT SPENDING QUESTIONED Most financial experts are forecasting the Gold price to increase in 2013 for the 13th year in a row. However, some financial institutions are scaling back their initial Gold forecast. “The Gold market tends to look beyond headline inflation, to what the reaction of the central banks is going to be. Even though inflation has been rather low for the past couple... Read More
Morning Gold & Silver Market Report – 1/16/2013
STOCKS TRADING LOW; GOLD OVERTAKES PLATINUM U.S. stock futures and Precious Metals are trading lower this morning. Data showed that consumer prices were flat in December thanks to falling energy costs, but the core prices, which do not include food or energy, went up by 0.1 percent. For stocks, Read More
Closing Gold & Silver Market Report – 1/15/2013
GOLD STARTS THE WEEK MOVING UPWARD Gold has seen a two week high so far this week. Most financial experts agree that the yellow metal is set to continue its twelve year climb. Most forecasts point to central banks’ continuing stimulus programs and record low interest rates as driving factors of the Precious Metals... Read More
Mid-Day Gold & Silver Market Report – 1/15/2013
BUNDESBANK WANTS GOLD RESERVES TO STAY AT HOME Gold piggybacked off both yesterday’s gains and the dramatic rise in Platinum price to pull within striking distance of its critical support level of $1,700 per ounce. Germany’s central bank, Bundesbank, plans to keep its Gold holdings in close proximity as opposed to securing it in foreign banks as it has done in the past. Gold investors carefully watch the net purchase of Gold by central banks. The rise in Gold acquisition by ... Read More
Morning Gold & Silver Market Report – 1/15/2013
PLATINUM BOOSTS GOLD; FITCH WARNS ON DEBT CEILING Gold is higher this morning, thanks in large part to Platinum. Since the world’s top Platinum producer reported output would be cut by 400,000 ounces, Platinum’s price has overtaken Gold’s for the first time since March; however, it is seemingly boosting Gold’s appeal as well. Saxo Bank vice president Ole Hansen said, “Platinum is the main driver … [but]... Read More
Closing Gold & Silver Market Report – 1/14/2013
GOLD FINDS SUPPORT AS DEBT CEILING ISSUES ARISE; U.S. ECONOMY SHOWS PROGRESS The Gold price increased today as concerns grow on two economic matters: First, whether the Federal Reserve will continue its bond buying program as the economy appears to be recovering, and second, if politicians will come to a debt ceiling agreement. Analysts suggest Gold will receive support with the upcoming debates over raising the U.S... Read More
Mid-Day Gold & Silver Market Report – 1/14/2013
STRONG EURO LIFTS GOLD AHEAD OF FED SPEECHES A strong euro, aggressive physical buying in China, and reports that the Bank of Japan will increase its inflation target have all driven the Gold price up today. The marginal gain comes following a significant price dip Friday. “ Read More
Morning Gold & Silver Market Report – 1/14/2013
GOLD GAINS, STOCKS HOLDING STEADY Chinese export data and investor optimism about fourth quarter earnings helped push the S&P 500 (SPX) up 0.4 percent last week. This two week rally showed the highest trading levels since December 2007. Fed Chairman Ben Bernanke is scheduled to speak today at 4 p.m. from Ann Arbor, Michigan.... Read More
Weekly Gold & Silver Market Recap – 1/11/2013
GOLD MOVES UP, DOWN, ENDS FLAT Gold started this week off flat after last week’s drop due to uncertainty in the market. The lower price did lead to more buying across the globe. It held flat Monday following last week’s pullback as speculators remain uncertain over the future of the Federal Reserve’s quantitative easing (QE) program. The Fed’s stimulus policy has be... Read More
Mid-Day Gold & Silver Market Report – 1/11/2013
GOLD CONFIDENCE MAY BE RETURNING; EQUITIES STILL HOT We made it through the first round of debt ceiling talks, and now earning season is upon us. Soon we will have a clearer landscape for how the rest of the quarter and the year should look. Chuck Butler, president of EverBank World Markets said, “Once the landscape for those things can be laid out, the market wi... Read More
Morning Gold & Silver Market Report – 1/11/2013
MARKET LOOKING FOR DIRECTION; TRADE DEFICIT AT WIDEST IN NINE MONTHS The Gold price has mostly recovered from early-morning losses, a day after a rally set off by data in China and a weaker U.S. dollar. Chuck Butler, president of EverBank World Markets, said, “Once the landscape for [the debt ceiling and the government budget] can be laid out, the mar... Read More
Closing Gold & Silver Market Report – 1/10/2013
GOLD RISES AS CONSUMER CONFIDENCE BRINGS DOWN DOLLAR Gold’s price received a boost today after the European Central Bank (ECB) indicated it would not cut interest rates in the near future. ECB President Mario Draghi has concluded the eurozone will continue to struggle with growth for the majority of 2013, and he suggested a slow recovery in the latter part of 2013. “Gold was oversold aft... Read More
Mid-Day Gold & Silver Market Report – 1/10/2013
GOLD MOUNTS MINOR RALLY ON STRENGTHENED EURO The dollar weakened versus the euro today driving the Gold price up more than one percent. Strong Chinese export data and news that the European Central Bank (ECB) has no immediate plans to extend near-term rate cuts were the main catalysts moving the Gold price. The “ECB and Bank of England left policy in pla... Read More
Morning Gold & Silver Market Report – 1/10/2013
STOCKS ON THE RISE; JOBLESS CLAIMS UP Stock market futures are looking bullish today due to positive trade data from China. Chinese export data surpassed analysts expectations rising 14.1 percent in December as compared to last year. Domestically, jobless claims rose last week by 4,000 to a seasonally adjusted 371,000. Claims for ... Read More
Closing Gold & Silver Market Report – 1/9/2013
GOLD WEAKENS MILDLY AS STOCKS RISE; EXPERTS QUESTION PROLONGED MARKET RALLY Gold is down slightly today following modest gains on Tuesday. Strong earnings for the New Year have increased investor appetite for higher risk assets. However, many will await Read More
Mid-Day Gold & Silver Market Report – 1/9/2013
GOLD PRICE ERASES GAINS DUE TO MONETARY EASING DISCUSSION After yesterday’s increase in the Gold price, the market has moved lower. The slip in prices is due to the growing uncertainty of the United States Federal Reserve’s plan regarding its monetary easing policy. According to James West, portfolio adviser to the Midas Letter Opport... Read More
Morning Gold & Silver Market Report – 1/8/2013
PHYSICAL DEMAND STRONG AHEAD OF CHINESE NEW YEAR Gold and Silver prices are flat this morning as U.S. stock futures point to an end to a two-day losing streak. Peter Cardillo of Rockwell Global Capital said, “I’m skittish here in the sense that we’re headed for a small pullback [in stocks]. Nothing serious, but again, the pullbac... Read More
Closing Gold & Silver Market Report – 1/8/2013
GOLD PRICE MOVES UP; MORE MONETARY EASING TALK After three consecutive days of losses, Gold has made a positive turn around. There has been a worldwide push for physical demand as of late, which is not unusual for this time of year. “Gold historically has shown a tendency for strong demand, and prices, in the second half of January. This can be la... Read More
Mid-Day Gold & Silver Market Report – 1/8/2013
GOLD PRICES LIFTED BY HIGHER DEMAND Gold prices are on the move after a report that Gold imports by China nearly doubled from October to November. “The move up today looks like it's just a reaction from some news that imports for China and Hong Kong doubled in November, so obviously China's still buying quite a bit of Gold even though th... Read More
Morning Gold & Silver Market Report – 1/8/2013
PHYSICAL DEMAND BOOSTS GOLD’S PRICE Precious Metals prices are rising this morning, thanks to a rise in physical demand due to the recent falling prices. Deutsche Bank analyst Daniel Brebner said, “We’re not out of the woods yet, and there is still much that the world economy needs in terms of support from monetary policy. The whole debt situation remains a major challenge, and accommodative monetary po... Read More
Closing Gold & Silver Market Report – 1/7/2013
MARKET HESITANT FROM FED MINUTES; IS EUROPE’S FINANCIAL CONDITION OUT OF CONTROL? Precious Metals prices remain stable as the market remains unsure on the Federal Reserve’s future plans with quantitative easing programs. “Any time there is any concern about Fed tightening, those nervous Gold investors leave the market very quickly,” James Dailey, portfolio manager of TEAM Financial Asset Manageme... Read More
Mid-Day Gold & Silver Market Report – 1/7/2013
PRECIOUS METALS LEVEL FOLLOWING NEW YEAR’S DIP The Gold price has held flat today following last week’s pullback as speculators remain uncertain over the future of the Federal Reserve’s quantitative easing (QE) program. The Fed’s stimulus policy has been supportive of the Gold price since its inception in 2010 as the creation of “new money” sparks inflationary fears... Read More
Morning Gold & Silver Market Report – 1/7/2013
GOLD KNOCKED DOWN, REBOUNDS SLIGHTLY; STOCKS AWAIT Q4 EARNINGS
The Gold price rebounded in overnight trading after falling Friday when the Federal Reserve indicated that the current QE program might come to an end this year. Quantitative easing (QE) weakens the U.S. dollar and historically supports prices on a range of assets, including Gold. Read More
Weekly Gold & Silver Market Recap – 1/4/2013
FISCAL CLIFF RESOLVED, BOOSTS COMMODITIES The beginning of the week was hectic with only hours left for politicians to reach a deal on the fiscal cliff. Late Tuesday, lawmakers passed a bill to extend tax cuts and temporarily raise the debt ceiling, and U.S. stock futures and Precious Metals enjoyed a boost from the decision. Read More
Mid-Day Gold & Silver Market Report – 1/4/2013
GOLD, SILVER DROP ON QE SPECULATION Precious Metals prices have slipped again today as a possible ending of the Federal Reserve’s asset purchase program might come sooner than expected. This speculation comes after minutes of the latest Fed meeting were released. However, this assumption appears to be premature as the unemployment rate remained... Read More
Morning Gold & Silver Market Report – 1/4/2013
METALS DROPPING AFTER JOBS REPORT Precious Metals prices are tumbling in early morning trading as they react to minutes from the latest Federal Reserve meeting which suggested that quantitative easing could be coming to an end soon. Stan Shamu of IG Markets said, “Gold had been one of the biggest beneficiaries of the Fed’s easing pr... Read More
Closing Gold & Silver Market Report – 1/3/2013
POSITIVE ECONOMIC NEWS PUSHES U.S. DOLLAR UP The much anticipated fiscal cliff has come and gone with a surprisingly positive outcome. Politicians were able to reach an agreement at the last minute with a deal being passed late Tuesday night. The market reacted yesterday with commodity prices rising and the U.S. dollar dropping compared to other major currencies. Today Precious Metals prices are down as the U.S. dollar has strengthened after U.S. jobless claims rose to a fi... Read More
Mid-Day Gold & Silver Market Report – 1/3/2013
GOLD, STOCK MARKETS SETTLE FOLLOWING WEDNESDAY’S STRONG ADVANCE Gold stumbled from its two-week high today as the market rallied following a solution to the tax portion of the fiscal cliff. With U.S. fiscal negotiations at least temporarily out of the spotlight, alternate economic factors will come in to focus. Since the economic downturn in the fall of 2008, the Go... Read More
Morning Gold & Silver Market Report – 1/3/2013
STOCKS TAKE BREATHER AFTER NEW YEAR RALLY The first trading day of 2013 saw the U.S. stock exchange alive with activity posting its biggest ever first session of the year. This is being credited to Congress and President Obama coming to an agreement on the tax portion of the budget crisis. This morning, however, in a post recov... Read More
Closing Gold & Silver Market Report – 1/2/2013
FULL FISCAL CLIFF EFFECTS AVOIDED, BOOSTING GOLD AND EQUITIES Markets rallied today after lawmakers secured a last-minute solution to evade the potentially crippling tax hikes and budget cuts projected to drag the U.S. economy into another recession. Precious Metals prices rose substantially after news of a resolution, causing Gold in particular to reach its highest... Read More
Mid-Day Gold & Silver Market Report – 1/2/2013
PRECIOUS METALS RECEIVE A BOOST Precious Metals prices saw a boost as U.S. lawmakers passed legislation to avoid the fiscal cliff. “Markets reacted positively to news that a deal of sorts has been reached,” TD Securities Inc. Vice President Steve Scacalossi said in an email. “The drop in the dollar is also providing a boo... Read More
Morning Gold & Silver Market Report – 1/2/2013
NEXT RUN-IN WITH DEBT CEILING IS NEXT MONTH Lawmakers passed a bill to extend tax cuts and temporarily raise the debt ceiling late last night, and U.S. stock futures and Precious Metals are enjoying a boost from this decision. However, the U.S. economy isn’t quite out of the woods yet. Fawad Razaqzada of GFT Markets said, “The focu... Read More
Closing Gold & Silver Market Report – 12/31/2012
U.S. FALLS OFF CLIFF AT MIDNIGHT WITH NO HOUSE VOTE This year marks the 12th in a row that the Gold market has improved on the year, which is the longest upward trend in Gold since the 1920s. Experts point to the continuing economic stimulus by the world’s largest economies as the main reason for the climb. Europe, China and the United St... Read More
Mid-Day Gold & Silver Market Report – 12/31/2012
GOLD SEES 12TH YEAR OF GAINS; OPTIMISTIC FISCAL TALKS Safe haven buying has pushed Gold up today, as we are mere hours away from the edge of the fiscal cliff. The metal is set to end the year up about 6 percent, racking up a 12th conse... Read More
Morning Gold & Silver Market Report – 12/31/2012
FIFTEEN HOURS TO GO, CLIFF DEAL DOMINATES THE MARKETS U.S. stock futures started with some positive momentum as investors look for the silver lining of a potential fiscal cliff deal. Congress and President Barack Obama have just under 15 hours to avert what amounts to $600 billion in tax increases for nearly every American worker, as well as automatic budget cuts. The senate convenes at 11 a.m. (EST) to begin talks after failing to come to a final agreement Sunday ... Read More
Weekly Gold & Silver Market Recap – 12/28/2012
GOLD FLAT IN HOLIDAY SHORTENED WEEK This week has brought very little movement in the Precious Metal markets due to holiday market closures. On the days the markets were trading there was little to no movement to speak of. On Wednesday there was a small rise in value thanks to the news out of Japan. “News about Japan planning to announce... Read More
Mid-Day Gold & Silver Market Report – 12/28/2012
STOCKS LOWER AS FISCAL CLIFF SEEMS MORE LIKELY U.S. stocks continued their declines into the fifth day of trading on worries that politicians would not be able to find agreement on the fiscal cliff budget impasse before the end of the year. Chip Cobb, portfolio manager at BMT Asset Management, said “There might be some last-minute Hail Mary resolution, or... Read More
Morning Gold & Silver Market Report – 12/28/2012
GOLD’S SAFE HAVEN STATUS TO RE-EMERGE IF NO ‘CLIFF’ DEAL Precious Metals prices are trading lower this morning, though Gold is headed for a weekly gain to end the year. The safe-haven appeal of Gold could be boosted if U.S. policymakers fail to agree on a deal to avert the fiscal cliff before the end of the year. Peter Fertig of Quantitative Commodity Research said, “Now it is looking like the U.S. econ... 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.
