Precious Metals Market Reports
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
Closing Gold & Silver Market Report – 10/11/2012
GOLD GAINS ON CONTINUED EUROZONE WOES DESPITE POSITIVE U.S. JOBS NEWS Gold experienced subtle gains today as promising data from the U.S. labor market compensated for a weaker dollar. Jobless claims fell despite anticipated projections of a rise in unemployment. Though the positive news from the Labor Department would typically inspire ... Read More
Mid-Day Gold & Silver Market Report – 10/11/2012
GOLD REBOUNDING AFTER SPAIN’S DOWNGRADE Gold has rebounded today despite concerns over a downgrade of Spain’s creditworthiness. The euro has stabilized after Standard & Poor’s downgraded Spain’s credit rating to BBB-, just a step away from a "speculative" rating. "We have been seeing a bit of demand coming out of the woodwork. It's nothing huge, but it was better than it has been previous... Read More
Morning Gold & Silver Market Report – 10/11/2012
SPAIN’S CREDIT NEAR JUNK; U.S. JOBLESS CLAIMS DOWN As Spain’s credit worthiness nears junk status, the euro found some life and steadied, holding Gold’s price in the upper $1,700’s. Spain is the eurozone’s fourth largest economy, and it is now carrying a credit rating of BBB- according to Standard & Poor’s. Though the downgrade had little effe... Read More
Closing Gold & Silver Market Report - 10/10/2012
WHAT CAN DEFEAT GOLD? FISCAL CLIFF APPROACHING QUICKLY Once again Gold successfully fought off the negative news in the market and remained flat for the day after being slightly down this morning. The eurozone financial crisis is worsening by the day, and Gold has been negatively affected by the situation. A Reuters poll released today reflects that 27 analysts remain bullish on Precious Metals for the... Read More
Mid-Day Gold & Silver Market Report – 10/10/2012
GOLD SEEN AS SAFE HAVEN; ENGLAND COMMENTS ON EUROPE The headlines have been dominated by the struggles of the global economy and the uncertainty of investment options. However, Gold has shown to be a steady option recently. “Gold (is one of the most liquid ways) to get exposure to inflation. The volatility… will remain low going forward as... Read More
Morning Gold & Silver Market Report – 10/10/2012
GOLD AND EQUITIES MARKETS DOWN AGAIN ON WORLD GROWTH OUTLOOK Trepidation continues to weigh on investors as the U.S. stock market opened to early losses this morning. A meager outlook for global growth and reduced earnings are the catalysts for market dips in recent days. "We have had a number of large companies reporting poor visibilities and that i... Read More
Closing Gold & Silver Market Report – 10/09/2012
GOLD CLOSES DOWN; EURO FINANCE MINISTERS MEET For the third consecutive day, Gold has closed lower. Signs point to a sluggish global economy. The unease in Europe continues with protests in Greece during the German Chancellor’s visit. China announced more monetary easing due to disappointing market reports in the country. Jeffrey Sica, chief investment ... Read More
Mid-Day Gold & Silver Market Report – 10/09/2012
EURO WORRIES GROW; GOLD A SAFE HAVEN Downward pressure on Gold from a weakening euro is being offset to some degree by investors seeking the safe haven appeal of Gold. The European currency fell as the bailout plans for both Spain and Greece appear to have hit significant road blocks. "A drift higher in the dollar won't have much of a damning impact on Gold because it would indicate that there is so... Read More
Morning Gold & Silver Market Report – 10/9/2012
GLOBAL ECONOMY TO GROW AT SLOWEST RATE SINCE 2009 Startling news out of Europe this morning has caused many investors to seek safe haven investments. The International Monetary Fund (IMF) said that many eurozone countries will miss their budget deficit targets agreed upon with European authorities, causing the euro to fall. This... Read More
Closing Gold & Silver Market Report - 10/8/2012
GOLD HOLDS FIRM; SPAIN MAY BE ON ITS OWN Gold felt some pressure today as the U.S. dollar strengthened and profit taking began. However, the yellow metal is proving it can hold its ground by making up part of its morning loss for the day. It is expected that the American economy will see more optimistic news, and that along with the further downfall of Europe will be positive for the U.S. dollar’s... Read More
Mid-Day Gold & Silver Market Report – 10/8/2012
SPAIN A SORE SUBJECT IN EUROPE Precious Metals prices have recovered slightly in morning trading. The U.S. dollar continues to rise against the euro as many are losing confidence in eurozone finance ministers to resolve recent debt issues that have come up. Spain is a particularly sore subject in the region. German Finance Minis... Read More
Morning Gold & Silver Market Report – 10/8/2012
GOLD & SILVER PRICES DECLINE IN MORNING TRADING Two forces are affecting Gold and Silver prices this morning. One is profit taking as traders take a portion of their profits off the table. The second is the rising U.S. dollar relative to the euro and other currencies. Investors are still digesting Friday’s jobs report, which stemmed the tide o... Read More
Closing Gold & Silver Market Report - 10/5/2012
PIMCO CEO PREDICTS INFLATION NEAR THREE PERCENT Precious Metals prices began to decline after the United States unemployment rate dropped a surprising 0.3 percent. The market is reacting radically with concern that the good news for the American economy could cut QE3 short. “People are throwing in the towel,” Adam Klopfenstein, a senior m... Read More
Mid-Day Gold & Silver Market Report – 10/5/2012
JOBS REPORT NOT EXPECTED TO HINDER GOLD PROGRESS Friday’s report showing a drop in last month’s unemployment rate has boosted stocks and pulled down Precious Metals prices. The jobs data represents the first time in 44 months that unemployment has been below 8 percent. However, Jan Hatzius, Goldman Sachs’ chief U.S. economist, believes the addition of 114,000 new jobs in the month of September is still uninspiring... Read More
Morning Gold & Silver Market Report – 10/5/2012
METALS FALL AS UNEMPLOYMENT RATE UNEXPECTEDLY DROPS Precious Metals added to early losses after the release of the Labor Department’s nonfarm payrolls report. The addition of jobs in September was disappointing, but the unemployment rate fell by 0.3 percent to 7.8 percent, which is the lowest level since January 2009. Since the ne... Read More
Closing Gold & Silver Market Report – 10/4/2012
GOLD RISES AFTER NEWS OF EUROPEAN DEDICATION TO MONETARY EASING Gold and the other Precious Metals ended the day up significantly as European Central Bank President Mario Draghi assured the public that the bond-buying initiative for the eurozone is helping ease financial anxiety. Europe’s plan for quantitative easing (QE) is set to continue f... Read More
Mid-Day Gold & Silver Market Report – 10/4/2012
GOLD EYES $1,800 PRIZE; FACTORIES FEEL GLOBAL SLOWDOWN The commitment by the European Central Bank to keep interest rates low, as well as widespread support for the euro, have Gold reaching for the prized $1,800 mark. “The question is of when rather than if we break out,” said Simon Weeks, ScotiaMocatta’s director of Precious Metals sales.”We've made about three highs in the low $1,790s. It needs to close above this resistance in the low to mid 90s, if we close abo... Read More
Morning Gold & Silver Market Report – 10/4/2012
EURO TROUBLES, “FINANCIAL ARMAGEDDON” SUPPORT GOLD Precious Metals are continuing their climb this morning, with Silver reclaiming $35 per ounce and Gold topping $1,790. An early boost came with news that the European Central Bank would hold steady on interest rates again, at 0.75 percent, with a zero percent interest rate on its deposit facility. ECB President Mario Draghi said at his monthly press conf... Read More
Closing Gold & Silver Market Report - 10/3/2012
INVESTORS SEEK SAFE HAVEN; GREECE’S DEBT-TO-GDP TO RISE TO 179.3% Historically, Gold has been known to hold its value and is seen as a store of wealth. The view has not changed as central banks and individuals worldwide are investing in Gold to protect themselves for the unforeseen future. The Federal Reserve, European Central Bank and the Bank of Japan have decided to provide further stimulus measures to assist their economies with growth, but this has only pushed... Read More
Mid-Day Gold & Silver Market Report – 10/3/2012
GOLD AND THE DEBATE; GLOBAL ECONOMY CONTINUES SKID
The Gold price has moved up today as the United States looks ahead to tonight’s first presidential debate of the election year. This election could shape the outlook of the U.S. economy for years to come. One person in particular, Federal Reserve Chairman B... Read More
Morning Gold & Silver Market Report – 10/3/2012
GOLD NEAR 11 MONTH HIGH AFTER REPORTS The Gold price is nearing an 11 month high this morning, supported by an overall lackluster feeling from investors regarding the global economy. Gains increased after the release of the ADP jobs report, which, including reductions in previous months’ estimates, showed a net increase of... Read More
Closing Gold & Silver Market Report – 10/2/2012
GOLD ENDS LOWER; AMERICAN DEBT IN THE SPOTLIGHT
Today saw the price of Gold drop from the seven month high that the Precious Metal hit yesterday. However, it may be just a temporary low based on the actions of central banks around the world. Many analysts believe the monetary easing that gave Gold a b... Read More
Mid-Day Gold & Silver Market Report – 10/2/2012
MARKET DOWN ON NEWS FROM SPAIN AND UPCOMING EARNINGS REPORTS The Dow Jones Industrial Average and S&P 500 are down slightly this morning as all eyes remained fixed on Spain. Spanish Prime Minister Mariano Rajoy stated today that a call for bailout funds is not imminent. News of the delay came after the close of European market... Read More
Morning Gold & Silver Market Report – 10/2/2012
DEUTSCHE BANK EXPECTS MORE GLOBAL EASING Gold prices were down slightly during Tuesday’s European trading hours. Analysts at Deutsche Bank said they expect further global monetary easing. With the timing and size of future policy action, they believe Gold prices will likely exceed $2,000 an ounce in the first half of 2013. Credit Suisse upgraded their ... Read More
Closing Gold & Silver Market Report – 10/1/2012
IS THE ECONOMY REALLY IN “PRETTY GOOD SHAPE?” Precious Metals prices fell in afternoon trading, though the prices are still being supported by easing monetary policy and lingering eurozone troubles. Silver, Platinum, and Palladium were boosted by positive manufacturing data due to their industrial uses. Chicago Fed President Charles Evans “was extremely ... Read More
Mid-Day Gold & Silver Market Report - 10/1/2012
FEDERAL RESERVE STRIVES TO CREATE GROWTH FOR U.S. ECONOMY Gold rallied this morning with what was reported as a rush of hedge fund buying for the beginning of a new quarter. A number of events this week could affect the price of Gold, but there are two main focal points: An updated United States unemployment report and a European Central Bank policy meeting. “To keep it simple, bad news, of which there is a lot in the euro ... Read More
Morning Gold & Silver Market Report – 10/1/2012
SILVER CROSSES $35; GOLD PRICE CLIMBS ABOVE $1790 Gold and Silver prices opened lower in early morning trading, but prices moved up rapidly as the opening bell neared. Eurozone manufacturing data that came out this morning confirms the worst performance since the Great Recession. Despite widespread cost cutting to make products more attractive, consumer demand continues to drop. Some analysts speculate that proble... Read More
Closing Gold & Silver Market Report – 9/28/2012
SPANISH BANKS PASS STRESS TEST; QE3 TO PUSH GOLD TO NEW HIGHS Gold and Silver prices turned lower in afternoon trading after stress tests on banks in Spain. Many traders are waiting to see if credit rating agency Moody’s Investors Service downgrades Spain’s sovereign debt rating. Gold has largely followed the euro recently, and David Song of Da... Read More
Mid-Day Gold & Silver Market Report – 9/28/2012
GOLD ON PACE FOR LARGEST QUARTERLY GAIN IN MORE THAN TWO YEARS Stocks dropped today as reports reveal a reduction in industrial activity in the Chicago area. The data from Chicago, the United States’ third largest metropolitan area, comes just weeks after similar news of a contraction in manufacturing output in New York. “What we’re seeing here,... Read More
Morning Gold & Silver Market Report – 9/28/2012
MONEY PRINTING LEADS TO GOLD BEING A FOURTH QUARTER WINNER Gold and Silver prices are recovering from early morning losses after the release of economic data in the U.S. Consumer spending in the country rose more than it has in the past six months, up 0.5 percent last month. However, personal income and the U.S. savings rate both disappointed. This is som... Read More
Closing Gold & Silver Market Report - 9/27/2012
GOLD ADVANCES; CHINA’S ECONOMY RAISES CONCERNS IN MARKET Gold began to soar this morning, holding steady this afternoon with anticipation that China will provide further stimulus to boost its economy and as Spain experiences difficulties with its new austerity measures. Oliver Pursche at GMG Defensive Beta Fund said, "I think it's a combination of furt... Read More
Mid-Day Gold & Silver Market Report – 09/27/2012
GOLD CONTINUES BOUNCE BACK Gold is continuing its bounce off yesterday’s two week low, which saw some investors taking profits in light of growing worries over the eurozone debt crisis. The European markets have recovered some ground after protests in Spain and Greece over proposed austerity measures and uncertainty over if and when Spain will officially request aid. "Short term, I think we'll see more ... Read More
Morning Gold & Silver Market Report – 9/27/2012
SAFE-HAVEN APPEAL BOOSTS GOLD PRICE Precious Metals prices are rebounding from two-week lows this morning, with Gold especially buoyed by its safe-haven appeal. While the problems in Europe seem to be increasing, putting further pressure on the euro, investors are looking for that safe haven to protect their investments. Mining strikes... Read More
Closing Gold & Silver Market Report - 9/26/2012
PRECIOUS METALS PRICES REMAIN INTACT WITH TODAY’S TRENDS Precious Metals prices have held their ground in a battle with a stronger U.S. dollar and a weaker euro today. The day began with violent protests in Madrid and Athens over undesirable austerity measures, all while the European financial crisis continues. This action pushed the euro and Gold down, which gave the U.S. dollar a hefty boost. Ole Hansen at Saxo Bank explains why the price adjustment for Gold was ess... Read More
Mid-Day Gold & Silver Market Report – 9/26/2012
GOLD PRICES DIP; GERMANY FALLS IN LINE WITH REFORM MEASURES Gold prices have gone lower today, but many believe it is a temporary action. "After rapidly rising between mid-August and mid-September, Gold has since been consolidating," BNP Paribas analyst Anne-Laure Tremblay said. "Short term, we could see a limited correction before the price resumes its ascent. The U.S. dollar has been strengthening of late, particularly against the euro. This is likely weighi... Read More
Morning Gold & Silver Market Report – 9/26/2012
GREECE & SPAIN HURT EURO, DRIVE DOWN METALS PRICES Precious Metals are trading lower this morning as central bank buying wasn’t enough to keep prices in positive territory. Renewed concerns out of Greece and Spain have driven the euro downward and strengthened the dollar. However, analysts at Commerzbank noted, “Central banks are likely ... Read More
Closing Gold & Silver Market Report – 9/25/2012
GOLD STAYS STEADY; U.S.A. FISCAL CLIFF INCHES CLOSER Today’s Gold prices remained relatively flat for the majority of the day. The main reason for the calm is quite simple; there has been a lack of financial news to push the market in either direction. One piece of news that has been gaining attention is the amount of Gold that countries have been adding to their central banking systems. South Korea and Paraguay lea... Read More
Mid-Day Gold & Silver Market Report – 09/25/2012
GOLD’S BULLISH SIGNALS; WILL QE3 BE WORTH IT? Gold continues to hold steady through midday trading. While weaker German business data weakened the euro and pushed up the U.S. dollar, expectations of central bank monetary stimulus and central bank buying appear to be providing bullish signals for Gold. "We still prefer to be buying Gold on dips and believe Read More
Morning Gold & Silver Market Report – 9/25/2012
HOUSING AND CONSUMER CONFIDENCE REPORTS DUE Stocks are holding their own Tuesday morning as investors are waiting for housing and consumer confidence data. At 10 a.m. (EDT), the July home-price index and the September consumer-confidence index will be released. Christian Tegllund Blaagjerg, Chief economist at FIH Erhvervsbank, said,... Read More
Closing Gold & Silver Market Report - 9/24/2012
GOLD PRICE LOOKING FOR INSPIRATION Gold is attempting to hold its price as investors have begun to take profits today. Natixis Bank believes QE3 was a major contributor to Gold’s rising price and they think more positive contributors will come for the metal. Natixis Bank said, "The market will instead turn to the question of the imminent U.S. "fis... Read More
Mid-Day Gold & Silver Market Report – 9/24/2012
EUROZONE NOT IN AGREEMENT; STOCKS AND METALS PRICES FALL The latest news concerning Europe’s struggle to see eye to eye on correcting the region’s debt crisis has caused U.S. stocks to fall today. The turmoil between eurozone leaders and reports that indicate a slowdown in the Chinese and German economies have extended Read More
Morning Gold & Silver Market Report – 9/24/2012
GOLD & SILVER PRICES FALL IN EARLY MORNING TRADING Increased fears about the slowing U.S. and European economies have driven up the U.S. dollar while driving down Gold and other commodities across the globe. Gold and Silver prices are currently up over their morning lows. Most likely, this downward movement is a correction in the value of the euro versus the U.S. d... Read More
Closing Gold & Silver Market Report – 9/21/2012
GOLD GAINING MOMENTUM Precious Metals prices have ticked downward in afternoon trading, echoing the end of the week for stocks. Art Hogan of Lazard Capital Markets said of the stock market, “After having two explosive weeks to the upside, where the S&P 500 was up 3.5 percent, it’s a huge victory to come out... Read More
Mid-Day Gold & Silver Market Report – 9/21/2012
SPAIN SEEKING REFORM; EXPERTS TOUT GOLD U.S. stocks rose today due in part to reports that Spanish Economy Minister Luis de Guindos is finally seeking bailout arrangements from the European Central Bank (ECB). Spain will have to agree to conditions set forth by the ECB in order to receive a portion of the $130 billion that has been allocated in ... Read More
Morning Gold & Silver Market Report – 9/21/2012
GOLD MOVES UP; TALK OF MORE STIMULUS FORTHCOMING Gold is continuing to rise following the abundance of economic stimulus in the global economy. Many central banks around the world have implemented plans to ease financial issues, including the United States, Europe and Japan. These moves have had a positive impact on Gold’s pricing and they could become a growing trend. “With the open-ended scheme to pri... Read More
Closing Gold & Silver Market Report – 09/20/2012
GOLD RESISTS PRESSURE; U.S. ECONOMY IN SLOW GROWTH Gold held its position well today despite a strong movement in the dollar and weaker U.S. equities. Also, China reported low manufacturing activity, which pushed European stocks down... Read More
Mid-Day Gold & Silver Market Report – 09/20/2012
GOLD UNDER PRESSURE FROM THE U.S. DOLLAR Gold continues to feel pressure through mid-day trading moving off the 6-1/2 month high set yesterday. Even news that the Bank of Japan would be launching its own round of monetary easing is not enough to offset the pressure from a strengthening U.S. dollar and investor profit taking. "The general mood is still positive. I think the longer we stall here... Read More
Morning Gold & Silver Market Report – 9/20/2012
‘SUPPORT REMAINS UNDER THE MARKET’ FOR GOLD U.S. stock futures and Precious Metals have edged downward this morning as the dollar firmed. “The rise in Gold and Silver will be tempered by drops in the stock market and rises in the dollar, and if this continues then the upside is limited for the time being,” Marex Spectron said in a note. “However, support remains under the market…” VTB Capital said in its own note, “Judging by the broader commodity market, QE3 eupho... Read More
Closing Gold & Silver Market Report - 9/19/2012
STABLE DAY FOR PRECIOUS METALS; INVESTORS ACQUIRE RECORD HOLDINGS OF PLATINUM Precious Metals prices remain flat following today’s trends. The small movement came after a decrease in crude oil by almost 4 percent for the day along with the Bank of Japan’ confirmation of further easing measures to improve the country’s economy. Stephen Platt at Archer Financial Services said, “Amid the crude oil break, Read More
Mid-Day Gold & Silver Market Report – 9/19/12
GOLD KEEPS UPWARD TREND GOING; FISCAL CLIFF LOOMING The price of Gold has continued to climb today with even more news of monetary easing by central banks around the world. "Current monetary easing by central banks is warranted by weak economic growth and subdued inflationary pressures in developed economies," BNP Paribas analyst Anne-Laure Tremblay said. "This trend is likely to continue until we see a notable improvement in economic growth trends.... Read More
Morning Gold & Silver Market Report – 9/19/12
GOLD NEAR SEVEN-MONTH HIGH AS BANK OF JAPAN EASES The Gold price rose this morning on news that the Bank of Japan has joined the United States Federal Reserve and the European Central Bank on the quantitative easing bandwagon. Max Cohen of Spreadex Ltd. said, “As central banks around the world pull together to provide stimulus and... Read More
Closing Gold & Silver Market Report – 9/18/2012
BANK SAYS GOLD COULD REACH $2,400 PER OUNCE IN 2014 Gold has recovered from earlier losses, Silver added to gains, and Platinum and Palladium continued to dip in afternoon trading today. The latter two metals are being pushed down by the end of the sometimes violent strike of miners in South Africa. Bank of America Merrill Lynch said in a note, “Given the new open-ended nature of QE3, the upward pressure on Gold prices should continue until employment is strong eno... Read More
Mid-Day Gold & Silver Market Report – 09/18/2012
QUESTIONS OF QE3’S EFFECTIVENESS; S. AFRICA STRIKE APPEARS OVER Gold prices moved off earlier session lows as the Federal Reserve has stated it’s “running flat out” of plans to stimulate the lagging U.S. economy. Excitement over last week’s announcement of a newest round of monetary easing (QE3) has been tempered by concerns over it’s effectiveness. “Judging by the broader commodity market, the QE3 euphoria ... Read More
Morning Gold & Silver Market Report – 9/18/2012
OVERNIGHT PROFIT TAKING FOR THE EURO After a four month euro rally, Tuesday saw some profit-taking and the euro fell against the dollar. Spain’s seeming reluctance to seek a bailout isn’t sitting well with investors either. Derek Halpenny, head of FX research in London, said “If Spain steps forward (to ask for a bailout) and all of us get some clarity it would remove an element of ... Read More
Closing Gold & Silver Market Report, 9/17/2012
GOLD’S VALUE INCREASES BY 13% IN 2012; BULGARIA REJECTS ADOPTION OF EURO Precious Metals moved slightly down for the day, taking a break from last week’s driving force of the announcement of QE3 that will aid the American economy. The past four weeks grabbed the market’s attention of how Gold is thought of as a safe haven with a rise of over 9 percent. Silver showed an increase of 23 percent. Julian Jessop at Capital Economics said, “The price for the Preciou... Read More
Mid-Day Gold & Silver Market Report – 9/17/2012
ANALYST SAYS ALL SIGNS POINT TO HIGHER METALS PRICES The four-session win streak by the Dow Jones Industrial Average came to an end today with concerns over the eurozone and shrinking manufacturing reports in the New York area. This dip comes after the Dow reached its highest level since December 10, 2007 following the Fed’s announcement of QE3 last we... Read More
Morning Gold & Silver Market Report – 9/17/2012
GOLD & SILVER PRICES HOLD NEAR SEVEN MONTH HIGH Gold & Silver prices are holding on to recent gains in early morning trading. Last week, Gold and Silver were up for the fourth week in a row. Gold prices have risen 13.2 percent so far in 2012. According to Peter Fertig, a consultant for Quantitative Commodity Research, “if we do not see $1,800 this week, that ... Read More
Closing Gold & Silver Market Report - 9/14/2012
GOLD HOLDS ONTO GAINS AHEAD OF WEEKEND Gold closed above $1,770 today, finishing strong after a tumultuous week of news affected the yellow metal. Economically, Gold is a commodity that is traded around the world.; its value is driven by global events. But this week all eyes were on the Fed and the announcement of QE3. Precious metals aren’t the only winners. All the major indexes were up; the Read More
Mid-Day Gold & Silver Market Report – 09/14/2012
STOCKS ADD TO GAINS AFTER QE3; GOLD OUTLOOK POSITIVE Global markets continue to rally today following Thursday’s announcement of the U.S. Federal Reserve’s aggressive bond-buying plan. News of the program lifted the S&P 500 to its highest single-day peak since January 2, 2008. The market reaction is not unexpected. Investors will await the long-term effects of ... Read More
Morning Gold & Silver Market Report – 09/14/2012
GOLD TAKES A BREATHER; STOCK FUTURES UP ON STIMULUS Gold opened fractionally lower this morning, as the markets appear to be taking a pause after Thursday’s announcement of a stimulus program. The program launched Thursday by the Federal Reserve is a combination of maintaining near-zero interest rates and an open-ended mortgage debt-buying program. News of this new program sent Gold up Thursday, closing up nearly 2 percent for the day and 10 percent for the month. ... Read More
Closing Gold & Silver Market Report, 9/13/2012
PRECIOUS METALS MARKETS REACT TO QE3 CONFIRMATION Further stimulus measures were announced today as the Federal Reserve announced the American economy would receive the third round of quantitative easing, also kno... Read More
Mid-Day Gold & Silver Market Report – 9/13/2012
QE3 ANNOUNCED, STARTS TOMORROW Precious Metals prices spiked today after the announcement that a third round of quantitative easing (QE3) starts tomorrow. In a statement, the Federal Open Market Committee said, “The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions.” Of course, among t... Read More
Morning Gold & Silver Market Report – 9/13/2012
QE3 DECISION ANTICIPATED AT 12:30 P.M. (EDT) Gold and Silver prices are mostly flat this morning as investors await a Federal Reserve monetary policy decision. Fed Chairman Ben Bernanke is scheduled for a press conference at 2:15 p.m. (EDT), though the policy decision should be out closer to 12:30 p.m. (EDT). David Morrison of GFT Markets believes that Read More
Closing Gold & Silver Market Report - 9/12/2012
PLATINUM UP NEARLY 3 PERCENT; NATIONS WANT PEACEFUL RESOLUTION WITH IRAN As mentioned in the Morning Gold & Silver Market Report, Platinum was heavily affected today after Anglo American Platinum, the number one Platinum producer in South Africa, was forced to shut down some operations by machete-wielding strikers. The metal rose nearly 3 percent for the ... Read More
Mid-Day Gold & Silver Market Report – 9/12/2012
STOCKS REPORT MILD GAINS IN ANTICIPATION OF QE3 U.S. stocks are reporting modest gains today as investors are guarded in anticipation of potential quantitative easing (QE3). Thursday will conclude a two-day session of the Federal Open Market Committee (FOMC) after which many analysts foresee Federal Reserve Chairman Ben Bernanke potentially announcing furt... Read More
Morning Gold & Silver Market Report – 9/12/2012
ANALYST: TIME FOR QE3 Precious Metals are trading higher this morning in anticipation of the Federal Reserve meeting tomorrow. After last week’s dismal jobs report, analysts believe the time is now for the Fed to act. Mike Dueker of Russell Investments wrote, “If many (Federal Open Market Committee) members meant what they said about needing to see ‘substantial and sustainable strengthening in the pace of the economic recover’ in order not to implement a third arou... Read More
Closing Gold & Silver Market Report – 9/11/2012
INVESTORS AWAIT FED ANNOUNCEMENT; CHINA’S ECONOMY REQUIRES EASING Gold is stable for the day as the market is eager to know whether the Federal Reserve will push out further easing for the American economy or continue to sit on the sideline. Not only are investors patiently awaiting the news, but so are expert market watchers, including some at Goldman Sachs who predict the chances of QE3 being announced are greater t... Read More
Mid-Day Gold & Silver Market Report – 09/11/2012
GOLD LIFTED BY WEAKER DOLLAR, U.S. DEBT CONCERNS GROW Gold continues to stay in positive territory through mid-day trading as the U.S. dollar continues to weaken against the euro. Warnings regarding U.S. creditworthiness have added to the expectation the Federal Reserve will take action, encouraging Gold demand. "The overwhelming consensus is in favor of more (quantitative easing) in a significant way. Let's assume that happens. Read More
Morning Gold & Silver Market Report – 9/11/2012
GOLD GAINING MOMENTUM, GERMANY WORRIED ABOUT U.S. DEBT Gold is trading around six month highs today as the euro is gaining strength against the dollar. Gold has a positive relationship to the euro currently and, at +0.75, is at its most positive correlation in two months. There are growing expectations about what will come out of Thursday’s Federal Rese... Read More
Closing Gold & Silver Market Report, 9/10/2012
GOLD PULLS BACK WITH PROFIT TAKING; WHEN WILL EUROPE RESOLVE DEBT ISSUES? Gold’s price is pulling back today as investors began to take profits after the metal continued to sit at a six-month high. Many are predicting this Thursday to be the day in which the United States Federal Reserve will announce new stimulus measures to boost the economy. A Shanghai-based trader commented on the likelihood of another round of quantitative easing and how it cou... Read More
Mid-Day Gold & Silver Market Report – 9/10/2012
SOUTH AFRICAN STRIKES CONTINUE; CITIGROUP ESTIMATES PROBABILITY OF QE3 AT 99% Gold and silver are trading relatively flat today while platinum and palladium are up following news of further unrest surrounding South African miners and leading platinum producer Lonmin plc. Reports were released today that 10,000 striking platinum miners – many of whom were armed with ... Read More
Morning Gold & Silver Market Report – 9/10/2012
The “Bond King”- PIMCO’s Bill Gross says Buy Gold! Bill Gross says to buy gold not bonds. In an interview on Bloomberg News today, Mr. Gross said that to continue believing that stocks or bonds can return 10% is a dying belief. Mr. Gross commented that, “Gold cannot be reproduced. It could certainly be taken out of the ground at an increasing rate but ther... Read More
Closing Gold & Silver Market Report – 9/7/2012
Gold & Silver Close out the Week Strong In early morning trading both gold and silver prices gave back gains earned earlier in the week, and then the new jobs report came out. The report of only 96,000 new jobs greatly missed expectations and gold soared $25 in a matter of moments. This upward pressure continued throughout the day with gold closing up over $30 and silver over $1. Read More
Mid-Day Gold & Silver Market Report, 9/7/2012
JOBS REPORT PUSHES PRECIOUS METALS PRICES UPWARD; RUSSIA STOCKPILES GOLD Disappointing data from the monthly United States jobs report is the latest news to cause concern over the American economy and prompt a spike in Precious Metals prices. The continued lack of stronger economic statistics is propelling the anticipation of further monetary easing by the Federal Reserve. Read More
Morning Gold & Silver Market Report, 9/7/2012
PRECIOUS METALS PRICES RISE ON WEAK JOBS REPORT Precious Metals prices were reacting to this morning’s United States nonfarm jobs report that showed 96,000 jobs were created in August. The number was disappointing because it fell short of the 125,000 that had been expected. This news was bullish for Gold and boosted the possibility of finan... Read More
Closing Gold & Silver Market Report, 9/06/2012
GOLD STILL FIRM ON ECB COMMENTS; LABOR REPORT LOOMING Gold’s early session gains were pared as several good economic reports increased doubts about seeing any economic stimulus in the short term. Payroll processor ADP reported positive employment numbers, and the United States Labor Department said first time unemployment claims fell to their lowest number since mid July. The Labor Department will release its official report Friday. Depending on ... Read More
Mid-Day Gold & Silver Market Report, 9/6/2012
POSITIVE DATA FROM U.S. AND NEWS FROM ECB MOVE STOCKS/GOLD PRICES HIGHER U.S. stocks are up today following positive economic reports and news about the European Central Bank’s (ECB) unlimited bond-buying program. Information showing growth in the U.S. services sector – as well as in employment and exports – coincided with the ECB’s announcement, and this has drive... Read More
Mid-Day Gold & Silver Market Report, 9/6/2012
POSITIVE DATA MOVE STOCKS, GOLD HIGHER American stocks were up today, following positive economic reports and news about the European Central Bank’s (ECB) unlimited bond buying program. Information showing growth in the United States services sector, as well as in employment and exports, coincided with the ECB’s announcement, and this has driven the Read More
Morning Gold & Silver Market Report, 9/6/2012
ECB TO BUY SOVEREIGN BONDS “The euro is irreversible,” said Mario Draghi, European Central Bank president, as he announced a bond buying program at a news conference in Frankfurt. The program is called MOT, or Monetary Outright Transactions. MOT will focus on the secondary sovereign bond market, where Draghi said it is necessary to deal with “severe” distortions in those bond markets. Read More
Closing Gold & Silver Market Report, 9/5/2012
MARKET QUIET AHEAD OF ECB MEETING; AUTHOR SEES ZERO GROWTH FOR CHINA Gold and Silver prices showed little movement Wednesday. The markets are speculating that an unlimited bond buying program may be announced at the European Central Bank’s policy meeting Thursday. The assumption is that the ECB will have many options to present to the Governing Council to consider, but there is no guarantee any of the... 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.
