Precious Metals Market Reports
Morning Gold & Silver Market Report – 11/19/2012
TRADERS BULLISH ON U.S. BUDGET Congressional leaders and President Barack Obama have publicly sated their optimism for a deal on the nation’s financial situation after only a few hours of talks last week before the president left for a three nation tour. The president reiterated his views Sunday in Bangkok where he said, “I am confiden... Read More
Weekly Gold and Silver Market Recap for Nov 16, 2012
GOLD PREPARES FOR FISCAL CLIFF As the week comes to an end, the news surrounding the United States’ fiscal cliff is the main topic of conversation. The question remains what, if anything, will be done to avoid this possible recession making event. “What people don’t like in markets is uncertainty,” said Gilles Sitbon at Sycomore Asset Management in Paris. “People are waiting for one thing that could make the market go down. People are ready to pull the trigger. And if nothin... Read More
Mid-Day Gold & Silver Market Report – 11/16/2012
TALKS BEGIN WITH A POSITIVE TONE It is still too early to tell, but top congressional Democrats and Republicans both said that Friday’s meeting with the president was constructive. U.S. stocks rallied back from early losses as leaders stood side by side making statements. Republican leaders said they were willing to put revenue on the table to get a deal as the president has insisted that taxes on the wealthy must be included in the final deal. On the other side of... Read More
Morning Gold & Silver Market Report – 11/16/2012
EUROZONE IN RECESSION; FISCAL CLIFF TALKS START TODAY Thursday’s European market activity ended showing the eurozone had slipped back into recession for the third quarter, which is likely to continue into the current quarter. The eurozone economy as a whole contracted 0.1 percent in the third quarter. This is on the heels of a 0.2 percent contraction from the second quarter. This news is troubling for th... Read More
Closing Gold & Silver Market Report – 11/15/2012
FACTORS INFLUENCING GOLD PRICES The global economic condition has become a great concern for the financial market recently. The European financial crisis has been prolonged, and containing the predicament from spreading to other countries is a difficult task. Today, U.S. weekly jobless claims climbed to 439,000, which analysts say was a result of Hurricane Sandy. Another obstacle the Gold price is facing is a slowdown in demand from China, the world’s second-largest consumer... Read More
Mid-Day Gold & Silver Market Report – 11/15/2012
GOLD FOLLOWS STOCK MARKET DOWN ON PERPETUAL ECONOMIC CONCERNS Pervasive concern over Europe’s debt crisis and U.S. budget troubles have pushed equity markets lower for the seventh day, dragging down Precious Metals prices as well. “The fall to session lows in Gold is driven by equities,” Peter Fertig, a consultant with Quantitative Commodity Research, said. Historic... Read More
Morning Gold & Silver Market Report – 11/15/2012
JOBLESS CLAIMS AT HIGHEST LEVEL IN 18 MONTHS Precious Metals and U.S. stock futures are trading lower across the board as the jobless claims report showed a jump to levels not seen in 18 months. Hurricane Sandy is being blamed for the jump in claims. The unemployment rate also rose slightly to 7.9 percent. The next big report on investors’ minds is the second estimate for third-quarter growth, to be rele... Read More
Closing Gold & Silver Market Report – 11/14/2012
MARKETS DOWN ON DOMESTIC, GLOBAL CONCERNS The Dow Jones Industrial Average and S&P 500 continue their downward slide as concerns over the impending “fiscal cliff” punish the stock market. “The fiscal cliff jars the economy at a time when it does not need to be disturbed too much, it's the last thing people want,” Jim Russell, chief equity strategist for U.S. Bank Wealth Management, said. The Read More
Mid-Day Gold & Silver Market Report – 11/14/2012
GOLD MOVES UP; EUROPE GRINDS TO A HALT Gold prices are moving up at the halfway point of the week. The main release today is the minutes from the recent U.S. Federal Reserve meeting. Most experts believe there will be no groundbreaking information from the meeting, just more of the same actions. The government’s looming budget talks have dominated the hea... Read More
Special Report: Fiscal Cliff is Only 1 of “4 Horsemen of the Economic Apocalypse” for 2013
The “Fiscal Cliff” is approaching on December 31, 2012, and by many reports, the issues may stretch into 2013 for months. However, according to an article published online by MarketWatch.com, a part of the Wall Street Journal Digital Network, the Fiscal Cliff is only 1 of the 4 Horsemen of the Economic Apocalypse facing the United States in 2013 and beyond. (Click here to ... Read More
Morning Gold & Silver Market Report – 11/14/2012
GOLD PULLED ON BOTH SIDES; EUROZONE DISAPPOINTS AGAIN U.S. stock futures are trading higher this morning, while the Gold price is relatively flat again. The yellow metal’s price continues to be pulled in different directions due to the looming fiscal cliff dilemma. On one hand, investors see Gold as a safe haven, and the uncertainty facing the U.S. in the coming months has those investors concerned. On the other hand, there could be a “ Read More
Closing Gold & Silver Market Report – 11/13/2012
GOLD SEES BOOST; U.S. CONGRESS BACK IN SESSION While the stock market has been falling in fear of the fiscal cliff looming over the United States economy, Gold has moved in a more positive direction, seeing more than a three percent boost over the past week. “I think many people feel that the can will continue to get kicked down the road. The outcome of the election seems to show there ... Read More
Mid-Day Gold & Silver Market Report – 11/13/2012
PLATINUM PRICES JUMP WITH PRODUCTION DEFICIT ANNOUNCEMENT Platinum and Palladium prices are on the rise following a shocking announcement made by Johnson Matthey. Its ‘Platinum 2012, Interim Review’ reveals that global Platinum production is estimated to fall 10 percent for the year, which sets the market for a deficit of the metal rathe... Read More
Morning Gold & Silver Market Report – 11/13/2012
FISCAL CLIFF SCENARIO IS “A DISASTER” Gold and Silver are mostly flat this morning as U.S. stock futures fell. Eurozone leaders did not approve the release of another round of aid to Greece, and the fiscal cliff still looms over the economic horizon in the U.S. at the end of the year. Economists have predicted that if a fiscal cliff deal does not happen before the end of the year, it could Read More
Closing Gold & Silver Market Report – 11/12/2012
FISCAL CLIFF COULD FINALLY PUSH GOLD OVER $1,800 The Precious Metals market is experiencing little movement today due to the holiday. Analysts foresee Gold being supported at the $1,800 level with the fiscal cliff approaching in the next two months. “There is potential for further upside in Gold prices, but it crucially depends on how Wall Street will react,” Peter Fertig, a Quantitative Commodity Research consultant, said. “If economic data in coming weeks comes i... Read More
Mid-Day Gold & Silver Market Report – 11/12/2012
GOLD TRADING TIGHTLY; STOCKS DOWN AGAIN ON GREEK UNCERTAINTY Gold has given up early gains today as the price continues to hover around $1,730 on news of considerable demand for the metal in India and reports of a drop in Japanese gross domestic product (GDP). Japan’s GDP fell 0.9 percent in the third quarter, standing as a stron... Read More
Morning Gold & Silver Market Report – 11/12/2012
GREECE PASSES 2013 BUDGET; GOLD POISED FOR HIGH DEMAND U.S. stock futures are up this morning as markets were buoyed by both economic data out of China and news that Greece has passed a 2013 budget. Peter Cardillo, chief market economist at Rockwell Global Capital, said, “The news out of China (trade, exports reaching a five-mont... Read More
Closing Gold & Silver Market Report – 11/9/2012
GOLD GAINS FOR FIFTH SESSION; LEADERS TO MEET ON FISCAL CLIFF NEXT WEEK The price of Gold went up for the fifth session in a row today as investors wanting to hedge against an uncertain economic future increased their holdings of the yellow metal. Anticipation over the direction of United States monetary policy in the wake of Tuesday’s presidential election, along with fears about the upcoming fiscal cliff, drove ... Read More
Mid-Day Gold & Silver Market Report – 11/9/2012
CONSUMER SENTIMENT IN TUG OF WAR WITH FISCAL CLIFF U.S. stocks are up, taking a bite out of the S&P index’s biggest weekly decline since June. A better than expected report on consumer sentiment has added life to an otherwise worried market. Post-election stresses have been weighing on the market since the election. David Kelly, ch... Read More
Morning Gold & Silver Market Report – 11/9/2012
FOCUS ON “POTENTIAL FOR A FISCAL-POLICY ACCIDENT” IN U.S. United States stock futures, Gold, Silver, and Palladium are all trading relatively flat in early-morning trading. Michael Gavin of Barclays said, “The primary market focus seems likely to remain on U.S. politics and the potential for a fiscal-policy accident in the months to come.” He ... Read More
Closing Gold & Silver Market Report – 11/8/2012
MONETARY POLICY AND FISCAL CLIFF PUSH GOLD UP Today investor concern turned in a different direction with the main focus being on global monetary policies. Gold is on the rise in the aftermath of the U.S. presidential elections. Investors are aware and uneasy with the fiscal cliff approaching us within the next 54 days. “I think wi... Read More
Mid-Day Gold & Silver Market Report – 11/8/2012
GOLD RISES AND STOCKS FALL ON NEWS FROM EUROZONE The Gold price has risen today, following the euro’s rise after the European Central Bank (ECB) reaffirmed its intentions to pursue recently adopted monetary policy. Europe is in the spotlight today “with the ECB keeping accommodative policy in place and rates steady,” Jeffrey Wright, a managing director at Gl... Read More
Morning Gold & Silver Market Report – 11/8/2012
TRADE DEFICIT SHRINKS; JOBLESS CLAIMS HARD TO PIN DOWN The number of people filing for unemployment benefits fell by 8,000 last week; however, the effects of Hurricane Sandy are playing a big part in these numbers. One state claims that the loss of electricity because of the storm is suppressing filings. Others are claiming that workers who have lost jobs due to the storm are beginning to file. Read More
Closing Gold & Silver Market Report – 11/7/2012
STOCKS PLUMMET FOLLOWING ELECTION AND FISCAL CLIFF GRIDLOCK WORRIES The Dow Jones Industrial Average fell more than 312 points today, making it the largest single-day plunge of 2012. Now that the presidential election results are finalized, investors are shifting their focus towards the United States’ impending “fiscal cliff.” With more than Read More
Mid-Day Gold & Silver Market Report – 11/7/2012
GOLD’S ELECTION REACTION, EUROPE’S CLOUDY FUTURE
Now that the U.S. election is over, all eyes are back on the economic issues. Gold started the day higher, but the price has fallen in morning trading. One main issue is that the United States Congress is split between the two major parties and the fear is that there will be no headway in balancing the budget. Read More
Morning Gold & Silver Market Report – 11/7/2012
GOLD PRICE JUMPS AFTER OBAMA WIN The Gold price is giving up some early gains it enjoyed after President Barack Obama won a second term in the White House last night. Though the election is over, important issues are far from ending. Next up on the docket is the fiscal cliff at the end of the year. The President is now tasked with reaching a deal with a Republican-held House of Representatives, which is ... Read More
Closing Gold & Silver Market Report – 11/6/12
PRECIOUS METALS RISING TODAY; GREECE IN PROTEST MODE The Precious Metals market has shown positive gains today for a couple of reasons. The big reason is the presidential election in the United States. Many experts believe President Obama will win a second term in office, and that has given the markets a boost. “The prime driver ... Read More
Mid-Day Gold & Silver Market Report – 11/6/2012
METALS ON THE MOVE AHEAD OF U.S. PRESIDENTIAL ELECTIONS Precious Metals prices are quickly rising as the market awaits the final results of the U.S. Presidential elections today. Analysts have predicted if President Barack Obama is re-elected it would be positive for Gold due to the probability of additional Federal Reserve stimulus being needed. If Mitt Romney is elected, it is thought by many tha... Read More
Morning Gold & Silver Market Report – 11/6/2012
GOLD PRICE EYES U.S. ELECTION U.S. stock futures and Precious Metals are up across the board this morning, as Americans are slated to elect the next U.S. President. The fact that both stocks and Metals are gaining seems to be foreshadowing the close race which is expected throughout the day and night, with recent reports saying that... Read More
Closing Gold & Silver Market Report – 11/5/2012
HOW WILL THE U.S. PRESIDENTIAL ELECTIONS AFFECT GOLD? Gold prices are gaining today as the U.S. Presidential election approaches, which has been the focal point for 2012 in the investment market. The speculation on which candidate will be elected and what they will bring to the table has been strong today as many have shared their outlook for wh... Read More
Morning Gold & Silver Market Report – 11/5/2012
POLITICS PUT INVESTORS ON THE SIDELINES The two largest economies in the world, the U.S. and China, both had investors sitting on the sidelines this weekend. The U.S. presidential vote is tomorrow, while on Thursday, China’s ruling Communist Party starts its 18th National Congress. At this congress it will see a new generation of leaders that will hold power for the next 10 years. Investors are showing caution while strategists are saying it may not be time to be o... Read More
Closing Gold & Silver Market Report – 11/2/2012
GOLD AND STOCKS DROP AS ELECTION LOOMS A combination of several factors contributed to Gold ending the day the lowest it has been since the latter part of August. With the upcoming election generating uncertainty with investors and the report that October’s non-farm payrolls exceeded expectations, the dollar experienced a surge that pushed Gold down. Prices for Silver, Pla... Read More
Mid-Day Gold & Silver Market Report – 11/2/2012
JOBS DATA PUSHES GOLD DOWN — NOT ENOUGH TO BUOY STOCKS Gold has fallen drastically today as the dollar made gains following better-than-expected reports on nonfarm payroll data. Today’s price dip could be the largest single-day drop since late August. The metal is now trading around pre-QE3 levels on another positive jobs report. B... Read More
Morning Gold & Silver Market Report – 11/2/2012
OCTOBER JOBS REPORT ENCOURAGING; GOLD DROPS BELOW KEY LEVEL The final jobs report before Tuesday’s U.S. presidential election showed an increase of 171,000 new jobs in October, which is higher than many analysts predicted. However, the unemployment rate in the country also increased to 7.9 percent. The U.S. dollar gained and Precious Metal prices fell after the news, with Silver dropping below $32 and Go... Read More
Closing Gold & Silver Market Report – 11/1/2012
U.S. JOBLESS REPORT RELEASED TOMORROW COULD IMPACT GOLD PRICE AND PRESIDENTIAL ELECTIONS Gold began to feel pressure today from the U.S. dollar as it strengthened from positive economic data. Precious metals are facing an unknown future, from U.S. Presidential elections to the fiscal cliff, and analysts believe if the news is negative from either event, it could increase gold’s price. "Before the ... Read More
Mid-Day Gold & Silver Market Report – 11/1/2012
SLOW GROWTH COULD LEAD TO BAD NEWS FOR FINANCIAL MARKETS Stocks have gained approximately 1% so far today as Gold and Silver have turned downwards. Economic data from the U.S. and China supported thoughts of a growing global economy, according to Scott Wren of Wells Fargo Advisors. Wren said, “The data still tells me we’re in a modest growth ... Read More
Morning Gold & Silver Market Report – 11/01/2012
U.S. PRODUCTIVITY UP; START OF THE GOLD SEASON Before the jobs and consumer confidence reports were released this morning, U.S. stock futures had remained mostly stable, trading in a very tight range. John Haynes, head of research at Investec Wealth & Investment in London, summed up the current investor mood, saying, “I think people are underestimating... Read More
Closing Gold & Silver Market Report – 10/31/2012
WALL STREET RETURNS TO WORK; GOLD DOWN FOR MONTH, UP FOR YEAR Halloween isn’t enough to scare up a full day’s worth of gains on Wall Street. The stock market was open for a full day after Hurricane Sandy shut everything down for a two-day closure, the first since 1888. Jonathan Corpina, senior managing partner at Meridian Equity Partners in New York, is quoted saying, &q... Read More
Mid-Day Gold & Silver Market Report – 10/31/2012
GOLD MOVES UP ON EUROPE HOPE; THE COST AFTER THE STORM For the second day in a row, the Gold price has moved upwards. There are a few reasons for the upswing. “Gold is getting some bids today because of optimism about Europe,” Sterling Smith, a futures specialist at Citigroup Inc, said. Another reason is the holdings in bullion-back... Read More
Morning Gold & Silver Market Report – 10/31/2012
WALL STREET REOPENS; ELECTION, FISCAL CLIFF TO DECIDE GOLD’S FUTURE Precious Metals prices are rising this morning ahead of Wall Street’s official reopen Stock futures are higher as well, with trading expected to begin at 9:30 a.m. (EDT). Yesterday saw the release of the Case-Shiller index for August, which showed that home pri... Read More
Closing Gold & Silver Market Report – 10/30/2012
GOLD STAYS FLAT IN STORMY WEATHER; EUROPE SHOWING IMPROVEMENT Gold hovered today as Hurricane Sandy passes over the East Coast of the United States. While there has not been much movement in the price of Gold, the small amount has been positive. A couple of reasons have been the positive economic reports out of Europe and the news of more monetary easin... Read More
Mid-Day Gold & Silver Market Report – 10/30/2012
PLATINUM, PALLADIUM IMPROVE WITH STRIKE; EUROPE SUPPORTS GREECE Precious Metals prices are steady following a declining U.S. dollar. The U.S. non-farm payrolls report will be released Friday and is expected to show an additional 125,000 new jobs last month. “An increase in unemployment is a reason to be positive on the Gold price because we would see a greater pos... Read More
Morning Gold & Silver Market Report – 10/30/2012
SPAIN’S RECESSION CONTINUES; HEDGE FUNDS RETURNING TO PALLADIUM Precious Metals prices are rising this morning as the U.S. dollar falls, with Silver and Platinum leading the way. Global stocks are up as well due to Hurricane Sandy looking to be less costly than expected. Wall Street is closed for the second day in a row, though electronic trading continues at very low volumes, “which makes today’s gains ... Read More
Closing Gold & Silver Market Report – 10/29/2012
GOLD’S PRICE SURPASSES PRESSURE; AMERICANS CONFIDENT IN THE ECONOMY ONCE AGAIN Gold is being tested at the $1,700 price point, but is reassuring investors again this week who believe the metal may have a lower correction. “I don't think we'll break too far out from $1,700 or $1,715,” Bank of Nova Scotia's head of Precious Metals Simon Weeks said. “There's good physical interest on the dips.” The U.... Read More
Mid-Day Gold & Silver Market Report – 10/29/2012
WHICH PRESIDENTIAL CANDIDATE IS BETTER FOR GOLD? Precious Metals have pulled back in morning trading as the U.S. dollar gained. Jeffrey Wright of Global Hunter Securities said, “The fundamentals of Gold never halt — even with a storm looming. The attention this week will be on the employment report on Friday as well as U.S. election next Tuesday. [A Mitt Romney victor... Read More
Morning Gold & Silver Market Report – 10/29/2012
UNITED STATES STOCK EXCHANGES CLOSE AHEAD OF SANDY The decision was made Sunday evening to close New York stock exchanges for both floor and electronic trades due to Hurricane Sandy. The so-called “monster storm” is predicted to hit New York later today. Following suit, the Nasdaq OMX Group Inc and the BATS also announced that option and stock tr... Read More
Gold & Silver Market Report – 10/26/2012
GOLD’S PRICE IS STEADY; SPAIN’S UNEMPLOYMENT RATE HITS 25 PERCENT Gold has remained flat for the day after data indicated an improved U.S. economy for the third quarter. Bloomberg conducted a survey of 26 analysts in which 14 of them expect the prices to increase next week; 9 are bullish for the yellow metal and 3 were neutral. “The whole economic si... Read More
Special Report: 5 Possible Outcomes of the U.S. “Fiscal Cliff”
While no one can predict which direction the economy and the investment markets will take as a result of the “fiscal cliff” facing the United States at the end of December 2012, MarketWatch.com has proposed 5 possible outcomes to consider. The United States “fiscal cliff” was a term coined by the press to describe the circumstances of multiple economic events set to occur at virtually the same time on December 31, 2012. These events include the expiration of the payroll tax cuts, t... Read More
Mid-Day Gold & Silver Market Report – 10/26/2012
REPORT: BERNANKE WON’T TAKE THIRD TERM Gold and Silver prices rebounded after early morning losses thanks to the U.S. GDP report, however prices are still set for a weekly loss. Jeffrey Sica of SICA Wealth, said, “I don’t believe Gold is able to rally off of that data for now. Gold is a momentum asset and its momentum is not there right now.” Sica was also asked about reports that Federal Reserve Chairma... Read More
Morning Gold & Silver Market Report – 10/26/2012
GDP REPORT BOOSTS DOLLAR; GREECE IN MORE TROUBLE Gold and Silver are trading flat as the U.S. dollar is being fueled by an improving GDP number released this morning. The U.S. economy grew 2.0 percent in the third quarter, thanks to improving home building and higher spending. This is the final report regarding economic growth before the presidential election next month, and was eagerly awaited by invest... Read More
Closing Gold & Silver Market Report – 10/25/2012
GOLD FINISHES UP; FUTURE INFLATION POSSIBLE U.S. stocks closed the day slightly higher on positive reports for the global economy. Gold closed up after finishing Wednesday on a seven-week low. It appears that investors had been wagering on a continued decline in the Precious Metal by selling to take advantage of higher prices. Recent news of the U.S. central bank’s reassura... Read More
Mid-Day Gold & Silver Market Report – 10/25/2012
GOLD UP ON FED ASSERTIONS OF MORE QE3; STOCK MARKET DOWN ON EARNINGS As Gold faltered yesterday and flirted with sub-$1,700 levels for the first time in almost two months, the Federal Reserve’s reiteration of further liberal monetary policy has boosted the Gold price today. Weak economic development and feeble jobs numbers continue to be the driving forces b... Read More
Morning Gold & Silver Market Report – 10/25/2012
FESTIVAL SEASON IN INDIA SPURS GOLD DEMAND Precious Metals prices are rising this morning thanks, in part, to a softer U.S. dollar. Playing a part in Gold’s price increase is physical demand in India, as festival season starts. Edel Tully of UBS AG said, “After India’s festival celebrations yesterday, physical buying is startin... Read More
Closing Gold & Silver Market Report – 10/24/2012
FED ANNOUNCEMENT: QE3 WILL CONTINUE U.S. stocks dropped to a seven-week low following the end of a two-day Federal Reserve meeting to discuss economic strategy going forward. Few are surprised to learn that plans for indefinite monetary easing and near-zero interest rates until 2015 remain unchanged. "At first glance I don't see any surpris... Read More
Mid-Day Gold & Silver Market Report – 10/24/2012
CHINA’S GOLDEN INSIGHT; U.S. GROWTH STILL SLOW Gold has stayed relatively flat in the market today. The lull may be short lived based on what the U.S. Federal Reserve does in its two day meeting this week. It doesn’t seem to matter to China what the market is doing in the short term because all year they have been on a Gold buying spree. They have purchased 512 tons of Gold in the first eight months of this year alone. Because of China’s large foreign exchange reserve, it ha... Read More
Morning Gold & Silver Market Report – 10/24/2012
GOLD FACES THE EUROZONE’S NEGATIVE NEWS The price of Gold has seemed to lose its momentum after the credit ratings of five Spanish regions were downgraded yesterday, which pushed the euro and Gold down. The U.S. dollar is stronger today after Germany's business sentiment dropped for the sixth consecutive month, reflecting a weaker economy. Jeremy East at Standard Chartered believes the yellow metal is be... Read More
Closing Gold & Silver Market Report – 10/23/2012
GOLD STAYS DOWN; MONETARY EASING DEVELOPMENTS Gold has seen a significant dip in price today. With any strong movement in prices there is usually an underlying cause, and today that has been the struggles of the European economy. Spain has had their credit rating downgraded and has fallen behind in their debt reduction plans. The news has caused the euro to lose value and in turn has added value to the U.S. dollar. Read More
Mid-Day Gold & Silver Market Report – 10/23/2012
CHINESE ECONOMY LAGS; IRAN TRADING GOLD TO AVOID SANCTIONS? Gold prices continue to give ground through midday trading as soft corporate earnings and Spanish credit downgrades undercut the euro and U.S. stock markets. Gold bullion, which is seen as an inflation hedge, has pierced below its 50-day moving average. “It feels like deflation is now back in, and the quantitative easing is not going to help out the... Read More
Morning Gold & Silver Market Report – 10/23/2012
HEAD OF BANK OF ISRAEL SEES GLOBAL RECESSION Precious Metals prices are being dragged down by the euro, even as U.S. stock market indexes are falling. The credit ratings of five Spanish regions were downgraded, hurting the euro’s price. Deutsche Bank analyst Daniel Brebner said, “You’ve had QE priced in and what we’re seeing now is a bit of at retraceme... Read More
Closing Gold & Silver Market Report – 10/22/2012
GOLD MOVES AHEAD OF FED MEETING; GREECE REBUILDING CONFIDENCE Gold is slowly climbing today ahead of tomorrow’s Federal Reserve meeting. There is no expectation of further easing after the recent launch of QE3, in which the Fed announced it would buy mortgage backed securities at a rate of $40 billion per month. The meeting will provide details on how the... Read More
Mid-Day Gold & Silver Market Report – 10/22/2012
GOLD HIGHER AFTER TWO WEEKS OF LOSSES; INVESTORS AWAIT GLOBAL POLITICAL ACTION Gold is trading modestly higher today following a week of hefty losses. “Gold is hanging in a trading range with a slight upward slant with bargain hunters buying ahead of a two-day [Federal Open Market Committee] meeting this week,” said Jeffrey Wright, a mana... Read More
Morning Gold & Silver Market Report – 10/22/2012
GOLD & SILVER REBOUNDING OFF MORNING DIPS Friday’s disappointing corporate earnings drove stock prices down more than 200 points and took Gold prices down 1.8 percent as investors sought the safety of the U.S. dollar. This morning, the U.S. dollar is down allowing Gold prices to move up off morning lows. Gold may also be getting support out Europe, as Spain’s Prime Minister ... Read More
Closing Gold & Silver Market Report – 10/19/2012
SPAIN CAUSES COMMOTION IN THE MARKET; FISCAL CLIFF HERE BEFORE WE KNOW IT Spain unsuccessfully requested a bailout today from the eurozone to rescue itself from a financial collapse, which directly affected the euro and gold negatively by pushing both down. "We're hearing Europe, the financial crisis; you're starting to hear that again, so th... Read More
Mid-Day Gold & Silver Market Report – 10/19/2012
GOLD DOWN ON EURO NEWS; STOCKS DROP ON WEAK CORPORATE DATA Gold is set for another day of losses as the euro softened in anticipation of the EU summit’s closing in Brussels. Plans for immediate assistance to the profoundly struggling nations of Greece and Spain went largely unmentioned as the falling euro dragged Gold down with it. Though the metal has descended sha... Read More
Morning Gold & Silver Market Report – 10/19/2012
FRENCH PRESIDENT CLAIMS EUROZONE IS ‘ON TRACK’ – IS IT? The euro is down this morning after the EU summit ended with no major developments. French President Francois Hollande believes the eurozone is “on track” to fixing the problems in the region, but he’s not fooling anyone. A statement from the summit claimed that banking supervision was coming, but as Alex White of JPMorgan said, “The statement repeated ... Read More
Closing Gold & Silver Market Report – 10/18/2012
GOLD DOWN ON PROFIT TAKING; HOUSING PERMITS BOOST ECONOMIC INDEX Gold closed down today as continued euro uncertainty and a weak U.S. equities market had many investors looking to consolidate gains. A battle of wills between Berlin and Paris over greater European Union control of national budgets weakened the euro, and Gold, relative to the dollar. Adding to the pressure was new data showing China’s economy slowed for yet another quarter. “Without any other major d... Read More
Mid-Day Gold & Silver Market Report – 10/18/2012
PIMCO OFFICIALS BELIEVE MANY COUNTRIES WILL BE DOWNGRADED Precious Metals prices have been relatively flat in morning trading. “Investors are not sure whether there will be more stimulus from China after today’s strong data,” Adam Klopfenstein of Archer Financial Services Inc said. A slew of Chinese economic data showed better n... Read More
Morning Gold & Silver Market Report – 10/18/2012
GOLD TRADING LOWER ON SOFTER EURO; JOBLESS CLAIMS RISE Precious Metals are trading lower this morning, in line with a softer euro. Though the euro is down today, it is up approximately 1 percent for the week, and some analysts are speculating that the reason is all in the minds of investors. Instead of expecting this week’s EU summit to... Read More
Closing Gold & Silver Market Report – 10/17/2012
GOLD UP ON WEAK DOLLAR; INVESTORS FOCUS ON EUROZONE Gold ended the day higher as a weaker dollar drove the metal up for the second day in a row. Increased confidence over Europe’s debt dilemma is the main catalyst pushing down the dollar. Though Gold experienced mild gains today, a significant price boost was halted by positive news about the U.S. housing market. A ... Read More
Mid-Day Gold & Silver Market Report – 10/17/2012
GOLD HOVERS; U.S. SHOWS IMPROVEMENT Gold is up slightly today, but over the past few weeks the Precious Metal has been relatively flat. The upcoming U.S. presidential election and economic turmoil in Europe have been two of the main culprits for the lack of any notable movement in the market. One of the reasons for the s... Read More
Morning Gold & Silver Market Report – 10/17/2012
PIMCO ADDS TO ITS GOLD POSITION; SPAIN EXPECTED TO ASK FOR BAILOUT Gold is slightly up this morning as anticipation builds before this week’s European Union leaders’ meeting to discuss Spain’s financial crisis. Germany will assist Spain if they ask for a bailout, and that willingness to help is supporting the euro. “Gold and the precious complex have been held afloat overnight and this morning by a stronger euro,” Edel Tully, an analyst at UBS AG in London, wrote today in a ... Read More
Closing Gold & Silver Market Report – 10/16/2012
GOLD REBOUNDS; EURO’S FUTURE DEPENDS ON GERMANY After a four week low, Gold rebounded today on the news of a possible bailout for Spain, which caused the euro to gain value and in turn caused the dollar to slip. Historically, when the dollar goes down the price of Gold increases. “The Gold market experienced momentum-based selling but app... Read More
Special Report: Read about the United States Fiscal Cliff
The United States Fiscal Cliff The term “fiscal cliff” entered the American lexicon as a reference to the impending economic predicament the United States government is facing at the end of 2012. Certain tax assistance laws enacted during the Bush administration and extended during the Obama administration, are set to expire on December 31, 2012, costing each U.S. taxpayer approximately $3,500 in higher taxes. The Budget Control Act of 2011, which was the compromise for the ... Read More
Mid-Day Gold & Silver Market Report – 10/16/2012
STOCKS AND GOLD BOTH RISE ON ECONOMIC DATA U.S. stocks made gains today following better-than-expected reports on domestic industrial growth and corporate earnings. At this point, less than 10 percent of S&P 500 companies have reported their numbers with 61 percent topping revenue expectations. Read More
Morning Gold & Silver Market Report – 10/16/2012
EURO RALLIES ON NEWS OF POSSIBLE SPANISH BAILOUT Precious Metals are regaining lost ground from yesterday as the euro strengthens against the dollar. News reports in Europe suggest that Spain is considering formally asking for assistance from the European Union’s bailout fund, which is causing the euro’s rally. Some analysts say that Spain’s prior r... Read More
Closing Gold & Silver Market Report – 10/15/2012
BIGGEST GOLD DROP SINCE JULY; GERMAN AID SOUGHT FOR EUROPEAN NATIONS Precious Metals prices began to drop this morning over distress that a global recession may be in our future. Also, it is rumored that China may be trying to sidestep additional easing measures. The overall impact of data showing a slower growing worldwide economy is affecting today’s market, especially commodities. “There are no clear signals from China whether there will be more stimulus,”... Read More
Mid-Day Gold & Silver Market Report – 10/15/2012
GOLD PUSHED BY PROFIT TAKING; EURO SQUEEZED BY UNCERTAINTY Gold’s failure to break $1,800 an ounce, along with positive U.S. economic data today, has many investors looking to cash out gains. Today’s retail sales data shows Americans bought more of everything in September and could indicate greater than expected growth in the third quarter. "The University of Michigan data on Friday, retail sales to... Read More
Morning Gold & Silver Market Report – 10/15/2012
GOLD & SILVER PRICES DOWN IN MORNING TRADING Whether it is the effects of the QE3 announcement wearing off or investor’s taking profits off the table, Gold and Silver prices have moved down throughout the morning. Federal Reserve Chairman Ben Bernanke found himself defending QE3 this weekend at the International Monetary Fund (IMF) me... Read More
Closing Gold & Silver Market Report - 10/12/2012
GOLD DROPS WITH POSITIVE U.S. DATA; SPAIN FORESEES ISSUES WITH A BAILOUT Gold’s price dropped today with concerns that the Federal Reserve could pull QE3 sooner than expected based on improved U.S. consumer sentiment and jobs data. "We are starting to see some improvement in the U.S. economy, so the duration of a quantitative easing plan may not be as long as what was initially anticipated. People who b... Read More
Mid-Day Gold & Silver Market Report – 10/12/2012
CONSUMER SENTIMENT EASES GOLD; PRICE INCREASES EXPECTED LONG-TERM Precious Metals were pushed down today as consumer sentiment reached its highest point in five years. Positive data regarding a decline in U.S. unemployment appears to have momentarily bested worries caused by recent fiscal policies - namely the Fed’s unlimited bond buying progra... Read More
Morning Gold & Silver Market Report – 10/12/2012
GOLD PRIMED FOR BREAKOUT; GLOBAL EFFECTS OF FISCAL CLIFF Gold has been steady over the last few months and it has some economists wondering if the yellow metal is ready to break out of its holding pattern. "Concerns about overall global economic health have kept Gold in a pretty tight trading range, but this is typical just before some type of breakout, up or down. 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.
