Precious Metals Market Reports
Morning Gold & Silver Report, 7/30/2012
GOLD PRICE SLIGHTLY LOWER IN OVERNIGHT TRADING Gold and equity markets are both poised to advance in the event that European leaders announce a plan to bail out Spain and curb further contagion. Spain has requested further eurozone support in buying its sovereign debt. Germany continues to be resistant to this notion, and this sets up a clash of wills as German finance officials prepare to meet with U.S. ... Read More
Closing Gold & Silver Market Report, 7/27/2012
GOLD CLOSES AT HIGHEST PRICE IN FIVE WEEKS Gold closed the trading week at its highest price in five weeks on strong words from European leaders and anticipation of fiscal stimulus by the United States Federal Reserve. “It seems the ECB is pulling out at all stops to protect the euro,” said William O’Neill, a partner at ... Read More
Mid-Day Gold & Silver Market Report, 7/27/2012
GDP GROWTH HITS LOWEST LEVEL IN 2012; GOLD HOLDS STEADY Precious Metals remained relatively steady through the morning trading period. There was some movement, and any gains were suppressed by the less than impressive GDP report and a weakening dollar. Strategist Walter de Wet said, “Gold has stabilized since the GDP data. There’s fairly good demand, some buying on the dips, but I doubt it w... Read More
Morning Gold & Silver Market Report, 7/27/2012
BETTER THAN EXPECTED GDP HOLDS BACK GOLD PRICE American stock futures rose this morning ahead of the second quarter gross domestic product (GDP) estimate release. Economists predicted a rise of 1.3 percent in the GDP, and the actual number was slightly higher than expected at 1.5 percent. Though the number was better than expected, the... Read More
Closing Gold & Silver Market Report, 7/26/2012
CENTRAL BANKERS GETTING CREATIVE WITH NEW STIMULUS IDEAS Policy making committees of three of the world’s largest central banks will be meeting independently to discuss new ways of spurring economic growth and steering their domains away from the many icebergs threatening to sink the world into a double dip recession. The United States Federal Reserve, Bank of England, and European Central Bank will all meet on the same day, and each will have its own ... Read More
Mid-Day Gold & Silver Market Report, 7/26/2012
STRONG EURO CONTINUES TO BOOST GOLD Gold is holding on to morning gains following comments by the president of the European Central Bank, which have buoyed the euro for a second day. “You’ve got a rise in the euro, which means a weaker dollar, and a ‘risk on’ environment, so everything that looks like a risky asset goes up. Gold has been trading j... Read More
Morning Gold & Silver Market Report, 7/26/2012
ECB PRESIDENT’S COMMENTS BOOST EURO, GOLD Uplifting comments from European Central Bank President Mario Draghi have boosted the euro for the second straight day, and Gold is following suit. BNP Paribas analyst Anne-Laure Tremblay said that positive news from the eurozone may not be the only thing supporting the Gold price. “Yesterday’s move above $1,600 an ounce was driven by more positive s... Read More
Closing Gold & Silver Market Report, 7/25/2012
LIKELIHOOD OF EASING GROWS; HOUSING MARKET HIT AND MISS Precious Metals prices have rallied on quantitative easing talk domestically, as well as internationally. Gold in particular is continuing its upward movement as a result of the easing talk. DoubleLine Capital commodities manager Jeffrey Sherman said, “The Gold market has been looking for any hints of any quantitative easing program. You are seeing this Read More
Mid-Day Gold & Silver Market Report, 7/25/2012
GOLD PRICE CLIMBS; EURO STILL IN JEOPARDY The Gold price has made a significant move upward today due to uncommonly positive news from Europe. Andrey Kryuchenkov, an analyst at VTB Capital, said, “The (European Central Bank) comments that the (European Stability Mechanism) can eventually get a banking license and a pronounced euro rebound against the U.S. dollar drove Gold prices to two and a half week highs.” The good news out of Europe... Read More
Morning Gold & Silver Market Report, 7/25/2012
GOLD BOUNCES BACK ALONG WITH EURO Gold is recovering from recent losses along with the euro this morning. A policymaker from the European Central Bank hinted that Europe’s rescue fund could get a banking license, allowing easy access to cheap funding from the ECB. While just a small mention from one policymaker, it has been enough to snap a five-day losing streak for the euro. German... Read More
Closing Gold & Silver Market Report, 07/24/2012
AMERICAN STOCKS SINK ON EUROPEAN FEARS American stocks closed the day with a third straight loss of 100 points or more in the Dow Jones Industrial Average. Fears of European problems drove markets after Moody’s lowered the outlook on German and Dutch debt this morning. Germany, the strongest economy in the eurozone, has been seen as... Read More
Mid-Day Gold & Silver Market Report, 07/24/2012
GOLD MOVES WITH DOLLAR; SYRIAN FIGHTING CONTINUES While a strong American dollar continues to put pressure on Gold prices, many investors are showing confidence in Gold after it fared well during Monday’s selloff. “Gold is just moving with the U.S. dollar,” said Afshin Nabavi, MKS Finance’s head of trading. “Yesterday, below the $1,570 level... Read More
Morning Gold & Silver Market Report, 7/24/2012
CREDIT OUTLOOK DIMS FOR GERMANY; U.S. FISCAL CLIFF LOOMS Precious Metals continue to hold firm in the serious headwinds affecting other commodities markets. Gold in particular has been relatively range bound, but in the current market conditions that’s not an entirely bad thing. Analyst Hayden Atkins said, “Markets sold off really heavily yesterday, and Gold held up pretty well against that.... Read More
Closing Gold & Silver Market Report, 7/23/2012
PRECIOUS METALS VOLATILE ON EUROZONE WOES Precious Metals remained volatile throughout the day’s market activity, primarily due to the rehash of the eurozone debt crisis afflicting Spain and Greece. The International Monetary Fund has stepped up efforts to get Greece back on track with a conference set for Tuesday. Precious Metals continue to hold at technical levels despite the concerns. Commodities broker Phillip Streible said, “When Gold gets down t... Read More
Mid-Day Gold & Silver Report, 7/23/2012
EUROPEAN REPORTS HAMPER GOLD; JOBS SECTOR STAGNATION FUELS CALLS FOR QE The Gold price started the week lower because of bleak financial news from Europe. Spain and Greece are the two main topics in the news today. The financial bailout in Spain may be more costly than originally anticipated, and the bailout in Greece is being threat... Read More
Morning Gold & Silver Market Report, 7/23/2012
EURO TANKS AS SPANISH, GREEK ISSUES RESURFACE Renewed worries of a deepening eurozone debt crisis have sent the euro to a two year low against the American dollar, and Precious Metals are following the former downward. Jeremy Stretch of CIBC said, “What began as a Spanish banking bailout looks to be moving rather quickly towards a possible sov... Read More
Closing Gold & Silver Market Report, 7/20/2012
GOLD ENDS WEEK WITH LACK OF DIRECTION As the week closed, the Precious Metals market had mixed results. The United States Federal Reserve chairman testified before Congress. The lack of direction did nothing to boost the market. In Europe, the economic follies keep rolling in, which kept the market grounded. On a posit... Read More
Mid-Day Gold & Silver Market Report, 07/20/2012
GOLD STAYS IN TIGHT RANGE THANKS TO SHORT TERM TRADERS Precious Metals pricing remained soft through midday trading as the beleaguered euro again hit session lows against the American dollar. Gold trading has also been strongly influenced by short term traders this week, who have Gold moving in a tight band. “Every time we go towards $1,570, some scattered ... Read More
Morning Gold & Silver Market Report, 7/20/2012
INVESTORS’ CAUTION WEAKENS DEMAND FOR GOLD Precious Metals prices have deflated since Federal Reserve Chairman Ben Bernanke’s testimony earlier this week, but metals remain poised for the first overall weekly increase in about a month. Physical demand for Gold is still depressed by India’s currency issues and a weakening ETF market, as well. Analyst David Wilson said, “Given the collapse of ... Read More
Closing Gold & Silver Market Report, 7/19/2012
AMERICAN ECONOMY POISED FOR WEAK SECOND HALF OF 2012 It’s tough to find good news about the economy these days. Many economists say the American economy is poised for an anemic second half of the year. “We’ll have very slow growth,” said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. “The excess supp... Read More
Mid-Day Gold & Silver Market Report, 7/19/2012
GOLD, SPAIN FIND POSITIVE SUPPORT; HOUSING SALES DROP The Gold price found some support and began to rise after yesterday’s testimony from Federal Reserve Chairman Ben Bernanke that further stimulus to boost the economy has been pushed to the side for now and possibly until after the 2012 presidential election. “I think this is why Gold, with the commen... Read More
Morning Gold & Silver Market Report, 7/19/2012
METALS FOLLOW EURO TO REBOUND; FED TIME LINE ‘TIGHT’ Precious Metals prices are on the upswing this morning, following the euro. The common European currency is rebounding on news that the European Union bailout fund will be able to support troubled Spain by buying Spanish bonds. Mitsui Precious Metals analyst David Jollie said, “It seems that every time we do not have (a third round o... Read More
Closing Gold & Silver Market Report, 7/18/2012
FED CHIEF SLAMS BILL; EURO FALLS, TAKING GOLD WITH IT Precious Metals continue to respond to a falling euro and the conclusion of Federal Reserve Chairman Ben Bernanke’s testimony before Congress today. With no firm plan for quantitative easing established, a number of investors are scratching their heads but are hopeful for further Fed action. Metals analyst Edward Meir said, “While easing may be expected, investors are still saddled with the Read More
Mid-Day Gold & Silver Market, 7/18/2012
GOLD REACTS TO LACK OF DIRECTION; AMERICA’S GROWTH SLOW The Gold price has continued to fall today thanks to the lack of action by the United States Federal Reserve. As the second day of testimony from Fed Chairman Ben Bernanke continues, there are no signs of any additional monetary easing in the near future. Also, the... Read More
Morning Gold & Silver Market Report, 7/18/2012
GOLD LOWER AS FIRM REPORTS ‘STRONG POSSIBILITY’ OF EASING Precious Metals prices were down this morning, with Gold and Silver prices hovering around 1 percent lower. Markets are still reacting to Tuesday’s testimony to the United States Senate Banking Committee by Federal Reserve Chairman Ben Bernanke, who did not give a clear... Read More
Closing Gold & Silver Market Report, 7/17/2012
FED CHIEF HINTS AT QE3, REMAINS UNCOMMITTED In testimony before members of Congress today, Federal Reserve Chairman Ben Bernanke said the central bank is prepared to act to support the economy, but he remained uncommitted to any specific actions. However, Bernanke was much more negative on the economic outlook... Read More
Mid-Day Gold & Silver Market Report, 7/17/2012
FED CHAIRMAN LEAVES MARKETS GUESSING Precious Metals have rebounded from early session declines, as Federal Reserve Chairman Ben Bernanke’s testimony again did little to indicate when or what actions the Fed might take to simulate the economy. In short, he simply restated the Fed’s pledge to to act if needed. “The Gold market’s reaction is suggesting that we are not going to get any stimulus... Read More
Morning Gold & Silver Market Report, 7/17/2012
CONGRESS TO HEAR FED CHAIRMAN; GOLD PRICE MOVING Precious Metals prices were fluctuating this morning ahead of Federal Reserve Chairman Ben Bernanke’s scheduled testimony before Congress this afternoon. Any further monetary easing would be a boon to Gold prices. Analyst Daniel Brebner said, “As it seems the U.S. data continue to deteriorate, the market is starting to anticipate some kind of ... Read More
Closing Gold & Silver Market Report, 7/16/2012
GERMAN RULING COULD DELAY EUROPEAN FISCAL PACT BY 8 WEEKS Precious Metals prices have remained stagnant during the day. There is much speculation on what will affect the Gold price and when it may happen. Jeffrey Sica at SICA Wealth shared his view on the possibility that Federal Reserve Chairman Ben Bernanke may announce another stimulus plan. Sica said, “If he doesn’t say anything against tightening, I believe it’s going to increase the likelih... Read More
Mid-Day Gold & Silver Market Report, 7/16/12
EUROZONE CRISIS PLAGUES GOLD PRICE; GLOBAL ECONOMIC FORECAST LOWERED The economic turmoil in Europe has taken its toll on the global economy, with Gold being no exception. The euro has fallen to a two year low on news that the troubled countries are no closer to resolving their issues. Another driv... Read More
Morning Gold & Silver Market Report, 7/16/2012
GOLD PRICE PAUSES, AWAITS FED CHAIRMAN’S TESTIMONY Federal Reserve Chairman Ben Bernanke is scheduled to give his semi annual testimony before a Senate panel Tuesday and the House Financial Services Committee on Wednesday. Although investors will be keeping a close watch for any mention of a third round of quantitative easing, it is expected that Bernanke will again scold or warn politicians that the nation is Read More
Closing Gold & Silver Market Report, 7/13/2012
MERRILL LYNCH PREDICTS $2,000 GOLD BY YEAR’S END The Gold price rose sharply today in conjunction with a buoyant equity market. So, what is next? Federal Reserve Chairman Ben Bernanke is expected to speak next week, and a great deal of speculation exists on whether he will drop hints of an upcoming QE3. There is a strong contingent that says QE3 is coming, and this probably factored into Friday’s large market gains. Merrill Lynch threw its name i... Read More
Mid-Day Gold & Silver Market Report, 7/13/2012
GOLD ON SAME LEVEL AS CASH, ANALYST SAYS Market analyst Ronald Stoeferle at Erste Group recently released a comprehensive report on Gold’s value and a forecast. Stoeferle suggests that the fourth quarter of 2012 could be extremely positive for the yellow metal; he predicts the price will reach $2,300 per ounce. Stoeferle said, “Due to its... Read More
Morning Gold & Silver Market Report, 7/13/2012
GOLD REBOUNDS; EURO STRENGTHENS DESPITE DOWNGRADE FOR ITALY Precious Metals prices were rebounding from recent losses this morning, as is the American stock market. Gold, in particular, has rebounded enough this morning to make up for this week’s losses. As has been the case recently, currency trade is supporting this move. The euro has steadi... Read More
Closing Gold & Silver Market Report, 7/12/2012
STRONG DOLLAR WEIGHS ON PRECIOUS METALS An appreciating American dollar has been good for those with cash savings, but it has pushed down other investments lately. Today was no exception. Gold ended the day slightly down after recovering early losses. Stocks dropped for the sixth straight day Thursday, indicating traders’... Read More
Mid-Day Gold & Silver Market Report, 7/12/2012
LACK OF FED DIRECTION STILL WEIGHING ON GOLD The minutes from June’s Federal Open Market Committee meeting released yesterday are still weighing on Precious Metals markets today. While the Fed does appear to be open to buying Treasury bonds, it is still not of a mind to take additional action. “It is a case that any hints, any clues that are coming out of the Fed over when they might do it, whether they might do it, Read More
Morning Gold & Silver Market Report, 7/12/2012
GOOD JOBLESS REPORT NOT ENOUGH TO OVERCOME FED DISAPPOINTMENT The disappointment from the minutes of the recent Federal Open Market Committee meeting is overshadowing fresh economic news this morning, sending stock futures and Gold down. Weekly jobless claims are at their lowest level in four years, but that wasn’t enough to ... Read More
Closing Gold & Silver Market Report, 7/11/2012
MEETING MINUTES SHOW NO SIGN OF QE3 SOON American markets, with hopes for additional quantitative easing, ended mostly lower today after the minutes of the most recent Federal Open Market Committee meeting were released. The minutes, which give insight into policy makers’ decisions, showed a lack of support for further easin... Read More
Mid-Day Gold & Silver Market Report, 7/11/2012
SLOW ECONOMIC GROWTH HELPS GOLD; INVESTORS LOOK FOR MONETARY EASING The global economy is slowing, and that is driving a higher demand for Gold. Economic issues have been abundant lately. The situation in Europe has shown no signs of improvement. China’s economy has slowed to a pace not seen in almost three years. The ... Read More
Morning Gold & Silver Market Report, 7/11/2012
INVESTORS SEEKING SAFE HAVENS; GREECE FACES OPPOSITION Gold is trading slightly lower this morning, while Silver has given up some early gains amid news that the United States trade deficit narrowed. The 3.8 percent drop in the deficit was expected, so it has not had much effect on the markets. However, in a new sign that the economic recovery in the ... Read More
Closing Gold & Silver Market Report, 7/10/2012
TRADERS PUNISH EURO AS BLACK CLOUD SWIRLS OVER EUROPE The euro fell in value today when compared to 16 of its most-traded peer currencies. Recent interest rate cuts by the European Central Bank have led traders to rid their portfolios of euro assets in favor of currencies with higher yields. This has happened despite the s... Read More
Mid-Day Gold & Silver Market Report, 7/10/2012
GOLD PRICE FALLS AS FLIGHT TO AMERICAN DOLLAR CONTINUES The Gold price has retreated during midday trading as nervous investors are flocking to the American dollar. Weaker Chinese export data and a falling euro added to the pressures on Gold, and strengthened the view that the dollar is the safe haven of the moment. “The market is being a little pessimistic and cautious about the global economy, and investors are choosing the dollar as the top safety haven,” sai... Read More
Morning Gold & Silver Market Report, 7/10/2012
1.3 BILLION IN CHINA HAVE LITTLE CHOICE BUT GOLD China continues to be the “most important player on the global Gold market,” according to Commerzbank AG. The World Gold Council predicts that China will increase its Gold holdings by 13 percent this year. What makes Gold so attractive to the Chinese market? Albert Cha... Read More
Closing Gold & Silver Market Report, 7/9/2012
OIL SHUTDOWN LOOMS IN NORWAY; FED OFFICIALS SHARE OUTLOOK ON QE3 The Gold price took a small jump Monday once investors began to take advantage of the yellow metal’s price dip, but it remained steady in the afternoon. The Gold price spiked due to rising crude oil prices and a weaker American dollar. Daniel Smith, an analyst with Standard Chartered, said, “The main thing that says to me is when inflati... Read More
Mid-Day Gold & Silver Report, 7/9/2012
GOLD LOWER TO START WEEK; EURO RECOVERY IN TIME CRUNCH Gold started the week lower due to a lack of direction in many economic factors. When the United States’ employment report came out Friday, it showed very little improvement. However, it may have been just enough to keep the idea of another round of monetary easing off the table for the Federal Res... Read More
Morning Gold & Silver Market Report, 7/9/2012
‘PERFECT STORM’ COMING TOGETHER, ECONOMIST SAYS Precious Metals are trading mostly flat this morning, taking a cue from the euro. The euro has rebounded slightly since hitting a two-year low on Friday. Adam Myers of Credit Agricole wrote, “The currency market mood is likely to turn more pessimistic this week as investors return t... Read More
Closing Gold & Silver Market Report, 7/6/2012
GOLD PRICE DROPS ON FEARS OF ECONOMIC SLOWDOWN Gold closed down today, as disappointing nonfarm payroll numbers and falling crude oil prices have prompted fears of deflation and a flight to the American dollar. “Gold’s decline today has to do with the notion that even though the job report is very weak, the lack of conviction that there will be another economic stimulus has caused Read More
Mid-Day Gold & Silver Market Report, 7/6/2012
GOLD REACTS STRONGLY TO AMERICAN JOBS REPORT Gold's price fell this morning as a result of disappointing numbers shown in the latest United States jobs report. U.S.A. nonfarm payrolls increased 80,000 jobs in June from May’s reading of 77,000, while the nation’s unemployment rate remained at 8.2 percent. “The Precious Metals bounced strongly when the (payroll) numbers turned out to be ... Read More
Morning Gold & Silver Market Report, 7/6/2012
GOLD SEEKS DIRECTION AMID GLOBAL ECONOMIC WOES As the week comes to a close, two things stand out in the marketplace. First are the unexpected positive job reports in the United States. These reports have given life to the dollar and taken the steam out of Gold’s two week rally. Second, negative economic news continues to flow out of Europe and China. Both ... Read More
Closing Gold & Silver Market Report, 7/5/2012
RECORD EUROPEAN STIMULUS PUSHES DOLLAR UP AS EURO, GOLD DROP The euro fell to a four week low against the dollar today, held down by a record low interest rate from the European Central Bank and a rise in the value of the dollar brought on by a report that showed more American jobs were created in June than prev... Read More
Mid-Day Gold & Silver Market Report, 07/05/2012
GOLD DIPS ON RATE CUTS; EUROPE A DRAG ON RECOVERY? Precious Metals were still trading lower on the heels of the European Central Bank’s cutting its prime interest rate to a record low. While Gold had made some headway after China’s surprise rate cut, the move by the ECB has pushed the euro down to a one month low against the dollar. “Overall, rate cuts by China, the ECB, and the U.S. are all positive for ... Read More
Morning Gold & Silver Market Report, 7/5/2012
TRIO OF ECONOMIC MOVES BOOSTS MARKETS Major financial policy moves from Europe and China are boosting American stock futures. Precious Metals prices have been choppy in early morning trading thanks to the inflationary pressures these moves are likely to have on the global economy. The first of these moves came from the United Kingdom, when the Bank of England refreshed its quantitative easing program and now Read More
Closing Gold & Silver Market Report, 07/03/2012
GOLD PRICE ENDS HIGHER ON HOPES OF MORE EUROZONE STIMULUS The Gold price closed at its highest point in two weeks today on hopes that the European Central Bank (ECB) will announce more stimulus measures to buoy a floundering economy in the 17 nation euro currency union. Expectations are that any announcement of stimulus by the ... Read More
Mid-Day Gold & Silver Market Report, 07/03/2012
GOLD HOLDS MORNING GAINS; IRAN SCARING UP OIL FUTURES Precious Metals continued to hold onto morning session gains ahead of the July Fourth holiday. American manufacturing’s first drop in nearly three years is yet one more data point leading many to believe central bank easing may be on its way. “You can take it as a sign that chances of QE (quantitative easing) are improving,” said Dominic Schnider, ... Read More
Morning Gold & Silver Report, 7/3/2012
STIMULUS TALK BOOSTS GOLD; AMERICAN ECONOMY DOWN, NOT OUT This morning, Gold and other Precious Metals are reaping the benefits of global stimulus expectations. In Europe, the European Central Bank (ECB) is expected to cut lending rates to record lows. After negative manufacturing reports came out in the United States, there has been more... Read More
Closing Gold & Silver Market Report 7/2/2012
ECONOMISTS NOT SURE HOW TO REACT TO EU PROPOSAL Gold’s price has remained stable today following doubtful views of the European Union’s summit. Commerzbank commented on Friday’s rally for Gold when the price shot up 3.5 percent by saying the demand was “likely to have been driven mainly by speculative financial investors. In the long term, we regard the current skepticism displayed by speculators to be constructive, for most fears should meanwhile be ‘... Read More
Mid-Day Gold & Silver Market Report – 07/02/12
GOLD PRICES WATCH THE MARKET, EUROPE’S UNION SHORT LIVED Gold prices ended last week on the rise, mostly thanks to the summit of the European Union leaders and the agreement to work together towards a common goal. As of Monday morning, those positive signs have diminished and Precious Metals prices are showing the effect. Even with the cloudy picture ... Read More
Morning Gold & Silver Market Report – 07/02/12
CENTRAL BANK CONSIDERS RECLASSIFICATION OF GOLD BULLION The United States Federal Reserve Bank released a memo on June 18, which calls for the reclassification of Gold from a 50% weighting to a 100% weighting. Currently, for every $1 of Gold held by the banks or central banks, only $0.50 can be claimed as book value. By changing Gold to a 100% weighting, i... Read More
Closing Gold & Silver Market Report, 6/29/2012
GOLD RALLIES TO END QUARTER Much like American stocks, Gold rallied strongly today, though it wasn’t enough to claim a victory on the quarter. The move upward in Gold is thanks to Europe’s plan to curb its debt crisis and expectations that it could be inflationary. Historically, any type of monetary easing or money printing has ... Read More
Mid-Day Gold & Silver Market Report, 6/29/2012
COMMODITY PRICES JUMP WITH EUROZONE ANNOUNCEMENT Precious Metals prices were on the rise following losses Thursday. Precious Metals prices have been following the global economic situation and the movement of the American dollar. There is speculation that Silver is undervalued at current levels and about what actually i... Read More
Morning Gold & Silver Market Report, 6/29/2012
EUROPEAN UNION SHOCKER SENDS PRECIOUS METALS HIGHER Precious Metals prices moved noticeably higher in early morning trading as the dollar weakened against the euro on news of a European plan to lower eurozone member nations’ borrowing costs. Economist Vishnu Varathan said, “It still falls short of a concrete solution, but the removal of severe pessimism over what’s going to come out of the EU summit is driving markets higher.” Meanwhile, the news has l... Read More
Closing Gold & Silver Market Report, 06/28/2012
OIL, OTHER COMMODITIES SLIDE ON EUROPEAN FEARS Most commodities, including Precious Metals and oil, ended the day with lower prices. Prices were pushed down by a stronger American dollar and fears of a continued lack of resolution to the eurozone crisis. Oil ended the day at the lowest price in eight months as it cl... Read More
Mid-Day Gold & Silver Market Report, 06/28/2012
PRESSURE ON GOLD CONTINUES; HEALTH CARE REFORM RULED CONSTITUTIONAL Pressure on Gold continued during midday trading, as the price was flirting with four week lows. Concerns abound that the upcoming European Union summit is not going to yield measures strong enough to deal with the debt crisis in the region. German Chancellor Angela Merkel is sticking to Germany’s position in opposing joint eurozone debt. “ Read More
Morning Gold & Silver Market Report, 6/28/2012
CONCERNS MOUNT AHEAD OF EUROPEAN SUMMIT; DOLLAR RISING Precious Metals prices were weathering the blows of investors concerns over the eurozone debt crisis. Concerns ahead of the European Union summit have influenced investors and world markets. The Indian rupee continues to struggle, which has curbed the primarily Gold investing nation’s normal buying activity. Analyst Robin Bahr said, “There’s no semblance of a safe haven at the moment, but Read More
Closing Gold & Silver Market Report – 6/27/2012
ANALYSTS SAY FURTHER EASING IN EUROZONE NECESSARY Better than expected economic data boosted American stocks while Gold remained flat during trading today. As Matthew Kaufler of Federated Clover Advisors explains, “The housing data came in better than expected and we got good news on durable goods orders, so we’re having a relief rally that th... Read More
Mid-Day Gold & Silver Report – 6/27/2012
GOLD WAITS ON SUMMIT, EURO IN SURVIVAL MODE The Gold market continues its holding pattern on the eve of the European summit. The yellow metal started the day on an upswing and has now settled down as investors await news from Europe. Matt Zeman, head trader with Kingsview Finance in Chicago summed it up by stating, “There‘s no clear-cut direction (for Gold), everybody is waiting for the EU summi... Read More
Morning Gold & Silver Market Report – 6/27/2012
EURO LEADERS ‘UNUSUALLY DIVIDED’ BEFORE SUMMIT Precious Metals are trading lower this morning, thanks to investors moving to the sidelines ahead of the European Union summit, which starts tomorrow. Michael Turner of RBC Capital Markets said, “This could be a reasonably long holding pattern until the headlines start to flow from the European Cou... Read More
Closing Gold & Silver Market Report, 06/26/2012
INVESTORS SEEK SAFE HAVEN AS UNCERTAINTY REIGNS Stocks rose slightly today, as economic data and headlines cast a glimmer of hope onto trading floors. Home prices rose slightly, according to the Case-Schiller index that measures home values in 20 major cities across the United States. However, optimism is still mixed with copio... Read More
Mid-Day Gold & Silver Market Report, 06/26/2012
PRECIOUS METALS UNDER PRESSURE; EURO KEEPS FALLING Gold is continuing its downward trend during midday trading, as the euro continues to fall and a resolution to the problems in Spain and Greece remains unseen. “Gold looks fragile at the moment,” BNP Paribas analyst Anne-Laure Tremblay said. “It could rebound if U.S. durable goods orders ... Read More
Morning Gold & Silver Market Report, 6/26/2012
EUROZONE WORRIES MOUNT; PRECIOUS METALS ON THE MOVE Precious Metals prices have been fairly volatile on eurozone debt fears and the escalation of violence and rhetoric involving Syria. Analyst Robin Bhar said, “Gold is capped on the upside by disappointment post-Fed, while on the downside, we have some bargain hunting, and a bit of physical buying into the troughs. … We are stuck in a fairly... Read More
Closing Gold & Silver Market Report, 6/25/2012
GOLD MOVING HIGHER, BUT GASOLINE PRICES INCHING DOWN The price of Gold has moved higher as the safe haven appeal of the yellow metal returns on continued weariness over the eurozone debt crisis. Cyprus has become the fifth eurozone country to ask for assistance from Europe. The Cypriot government said in a statement, “The purpose of the required assistance ... Read More
Mid-Day Gold & Silver Market Report, 6/25/2012
GOLD RETAINS INVESTOR CONFIDENCE; GERMANY IN CATBIRD SEAT The markets for Gold and other commodities are going strong thanks to more economic issues in the United States and Europe. While the price of Gold has been steady, the stock market has been anything but. Menachem Brenner, a finance professor at New York Unive... Read More
Morning Gold & Silver Market Report, 6/25/2012
SPAIN FORMALLY REQUESTS EU AID Uncertainty in Europe has led to American stock futures falling and Precious Metals prices remaining flat. A two-day European Union summit meeting is set for later this week, but Peter Boockvar of Miller Tabak said that “nothing of substance will come” of the meeting. He said Germany ... Read More
Closing Gold & Silver Market Report, 6/22/2012
EUROZONE SUPPORTS GROWTH; BANKING STOCKS RALLY Precious Metals prices remained volatile but ultimately ended up fairly even Friday, with Gold closing higher. Despite the credit downgrade of banks globally, banking stocks rallied, and the support of growth in the eurozone has helped boost some prices. Broker Phillip Streible said, “There is zero inflation out there. With Gold being well received ... Read More
Mid-Day Gold & Silver Market Report, 6/22/2012
ANALYSTS EXPECT HIGH RETURNS IN 2012 FOR GOLD, SILVER Silver is in high demand around the globe now, but especially in India as the white metal has regained its luster. The attraction to Silver in India comes from how the metal is perceived. It is looked at as bringing good luck and prosperity along with being more affordable for some. “People’... Read More
Morning Gold & Silver Market Report, 6/22/2012
GOLD STARTS REBOUND ON CREDIT DOWNGRADE OF BANKS Precious Metals prices dropped throughout the day Thursday, largely on the Federal Reserve’s disappointing announcement and the late-day credit downgrade to a number of international and domestic banks. Analyst Nic Brown said, “Since August, September, Gold has been trading like any other commodity. The one thing that will support prices this year is the potential for further aggressive monetary stimulus... Read More
Closing Gold & Silver Market Report, 6/21/2012
GOLD PRICE DROPS 3 PERCENT Precious Metals prices are feeling the effects from the Federal Reserve’s announcement Wednesday that there would not be further stimulus at this time, with prices dropping. Analysts and investors are cynical in their outlook for the American economy and commodities. Kyle Cooper at IAF Advisors said,... Read More
Mid-Day Gold & Silver Market Report, 06/21/2012
FED INACTION PUTS DOWNWARD PRESSURE ON GOLD The Gold price was still moving lower during midday trading after the Federal Reserve’s announcement Wednesday that it would be extending Operation Twist but would not initiate a third round of quantitative easing. The decision to skip a new bond buy back program has led some to believe the Fed may start increasing interest rates earlier than its own comments have suggested. This expectation of rising interes... Read More
Morning Gold & Silver Market Report, 6/21/2012
METALS LOSE GROUND AS JOBLESS CLAIMS GROW Precious Metals were trading lower this morning, along with most other markets around the world. American stock futures cut early losses after the release of the weekly jobless claims report, even though that report showed a net gain of 1,000 claims in the past two w... Read More
Closing Gold & Silver Market Report, 6/20/2012
‘TWIST’ A LITTLE LONGER; PRECIOUS METALS THE DANCE PARTNER? Although quantitative easing (QE) was not announced, the extension of the Fed’s Operation Twist has dropped Precious Metals prices for the time being. The outlook for Precious Metals remains tied to any Federal Reserve indication of further QE, as well as the European economic situation. Adviser Bill O’Neill said, “At least for the near term, it’s mainly a short term negative for Gold because ... Read More
Mid-Day Gold & Silver Market Report, 6/20/2012
FEDERAL RESERVE KEEPS OPERATION TWIST; QE3 OPTIONS REMAIN OPEN The long-awaited report by the United States Federal Reserve to the Joint Economic Committee has been released. The news is to stay the course. Operation Twist is a program that allows for the selling of short-term government debt and replacing it wit... 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.
