Precious Metals Market Reports
Mid-Day Gold & Silver Market Report – 4/5/2012
GOLD PRICE RISING AS GLOBAL MARKETS FALL ON RECESSION FEARS Precious metals prices are seeing moderate increases today, primarily on physical demand and overall concerns regarding global recession fears. Spain is the country at the forefront now, as Italy’s Mario Monti has stepped up and followed through on its austerity measures. But Spain is having a hard time meeting targets and might require international aid. An analyst from INTL FC Stone sa... Read More
Morning Gold & Silver Market Report – 4/5/2012
COULD SHARP DROP IN STOCKS RESULT IN QE3? Gold and Silver prices are recovering from yesterday’s decline, and U.S. stock futures are recovering from early morning drops after the release of the weekly report of claims for unemployment benefits. The report showed a better-than-expected 357,000 new claims were filed, an... Read More
Closing Gold & Silver Market Report – 4/4/2012
GOLD PRICE DIPS WITH SIGNIFICANT SELLOFF IN STOCKS, COMMODITIES After the release of the minutes from the March meeting of the Federal Open Market Committee, in which there was little discussion of any plans for future quantitative easing by the Federal Reserve, stocks and commodities -- including precious metals -- experienced a significant sellof... Read More
Mid-Day Gold & Silver Market Report 4/4/2012
GREEK OFFICIALS TO MEET WITH HOLDOUTS OVER BOND SWAPS Precious metals are following morning trends with a fall in prices across the board, following yesterday’s news that further quantitative easing from the Federal Reserve is unlikely. “The market has decided that yesterday’s statement is probably the final nail in the coffin,” Frank Lesh of FuturePath Trading said. “ Read More
Morning Gold & Silver Market Report – 4/4/2012
GOLD, GLOBAL MARKETS DOWN ON RECESSION FEARS The Gold price has dropped to one of its lowest levels in the past 3 months. The release of the minutes of the Federal Open Market Committee meeting (with little talk of further quantitative easing), and the European Central Bank holding steady to try to subdue inflation have many investors taking profits and looking at riskier investment opportunities. The euro’s value is falling while the U.S. dollar is ri... Read More
Closing Gold & Silver Market Report – 04/03/2012
GOLD PRICE DROPS AFTER FED MINUTES ARE RELEASED The Gold price has moved down strongly during afternoon trading, as the minutes released from the March Federal Reserve meeting indicated signs of stronger growth and a reduced likelihood of QE3 (quantitative easing). The Gold price is down nearly 6 percent since reaching the $1,790 mark at the end of February. “The Fed has distanced itself from QE3. It’s in line with what (Fed Chairman Ben) Bernanke said... Read More
Mid-Day Gold & Silver Market Report – 4/3/2012
GOLD PRICE STEADY; SPANISH DEBT WORRIES GROW Gold prices remained relatively steady with only marginal movements up and down through the morning session. Gold typically has moved with Fed announcements, and a report containing the minutes of the recent Federal Open Market Committee meeting is expected to be released about 1 p.m. (CDT). BNP Paribas analyst Anne-Laure Tremblay said, “The Gold market has recently been very sensitive to Fed statements, so ... Read More
Morning Gold & Silver Market Report – 4/3/2012
INVESTORS TO STUDY FED MINUTES FOR SIGNS OF EASING Gold and Silver are following U.S. stock futures this morning, as all are experiencing slight losses. Minutes of the latest Federal Open Market Committee meeting will be released later today. In a research note, analysts at Bank of America Merrill Lynch wrote, “We will l... Read More
Closing Gold & Silver Market Report 4/2/2012
JEWELERS’ STRIKE IN INDIA ENDS; PEACE PLAN UNDER WAY IN SYRIA Gold remained in positive territory in afternoon trading. Loan Smith at Knight Capital Europe Ltd. said a rally in Gold could take off central banks indicate further monetary action. “If the Fed reinstitutes quantitative easing measures later in the year, coupled with rising fiscal deficits and currency debasement among countries in the developed world, then Read More
Mid-Day Gold & Silver Market Report – 4/2/2012
MANUFACTURING SUPPORTING RECOVERY; GOLD SET TO RALLY? Gold prices have pushed above $1,680 during Monday’s trading. The opportunity cost of holding Gold is remaining low as the Federal Reserve remains committed to low U.S. interest rates. An improving economy could cloud the picture, as it would push back the possibility of additional quantitative easing, which could lead to an eventual hike... Read More
Morning Gold & Silver Market Report – 4/2/12
GOLD, SILVER PRICES SLIGHTLY LOWER IN OVERNIGHT TRADING Gold futures declined largely on concerns about events in India and Turkey. Jewelry stores in India are on strike against recent government taxes on Gold, which has reduced Gold imports from Turkey. The weaker jewelry demand is not currently offset by investment demand, ... Read More
Closing Gold & Silver Market Report
EUROZONE WORRIES ABATE; U.S. READIES SANCTIONS OVER IRAN Precious metals prices were on the rise this afternoon following the dollar’s decline and a rise in oil prices. The dollar’s decline came on the heels of the euro’s rise, which was due to the addition of funds to the eurozone’s financial firewalls. In a note to analysts, HSBC officials wrote, “In the near term, Gold prices may be influenced by the effectiveness of the eurozone’s plan ... Read More
Mid-Day Gold & Silver Market Report 3/30/2012
CONSUMER CONFIDENCE UP, BUT QE3 STILL POSSIBLE The Gold price continues to hold steady thanks to a stronger euro after finance ministers came to an agreement to increase Europe’s firewall to an estimated 800 billion euros. Anticipation is building among Gold investors who believe negative U.S. data might be forthcoming in the second quar... Read More
Morning Gold & Silver Market Report – 3/30/12
BOOST TO EUROZONE BAILOUT FUND PROVIDES BOOST TO METALS Precious metals and U.S. stock futures received a boost this morning, mainly due to a boost of a different kind. A statement from eurozone finance ministers this morning read, “All together, the euro area is mobilizing an overall firewall of approximately 800 billion euros, more than 1 trillion dollars,” to help protect against the spre... Read More
Closing Gold & Silver Market Report – 3/29/2012
GOLD GAINS IN AFTERNOON TRADING; FED CHAIRMAN SAYS CENTRAL BANKS SHOULD DEFUSE THREATS Since the posting of the Mid-Day Gold & Silver Market Report, the Gold price has climbed back into positive territory. Yesterday saw the price end down; during today’s trading, the precious metal has fluctuated between small losses and gains. Adam Klopfenstein, market strategist with Archer Financial, said Read More
Mid-Day Gold & Silver Market Report – 3/29/2012
DOLLAR GAINS ON EURO FEARS; JEWELERS STRIKE ONGOING IN INDIA Oil prices have declined, and the dollar is gaining over growing fears revolving around Spain’s less-than-stellar budget. Austerity measures are proving quite unpopular in Spain. The physical demand for Gold remains high in China, but the jewelers’ strike in India continued into a 13th day, which has hindered demand in the world’s top Gold-buying country. Nic Brown of Natixis said, “In the ne... Read More
Morning Gold & Silver Market Report – 3/29/2012
EMERGING ECONOMIES’ GROUP SCOLDS WESTERN POWERS Gold and Silver are enjoying slight gains this morning after choppy overnight trading. U.S. stock futures are down, due in part to a disappointing jobless claims report. After seasonal adjustments, last week’s jobless claims were revised upward by 4.6 percent, slightly mitigating this week’s drop of 5,000. A positive move for the dollar seems t... Read More
Closing Gold & Silver Market Report – 3/28/2012
DURABLE GOODS REPORT HINTS AT GROWING ECONOMY Gold prices moved below $1,660 an ounce today, as profit-taking was accelerated late in the session by a COMEX options expiration. The failure of Gold to breach $1,700 is being seen as a key resistance level. A smaller-than-expected increase in U.S. manufactured goods orders added to downward pressures as the dollar moved to session highs versus ... Read More
Mid-Day Gold & Silver Market Report 3/28/2012
AMERICANS SEE GOLD AS BEST INVESTMENT, SURVEY SHOWS According to Goldman Sachs, Gold’s price is too low compared to real interest rates. Gold is an asset that protects an investor against the possibility of the unknown, such as a Black Swan event. Recently, Matthew Lynn of Strategy Economics commented on the buying power by central banks in regards to Gold. Lynn said, “By holding... Read More
Morning Gold & Silver Market Report – 3/28/2012
CENTRAL BANKS’ BUYING MAY ADD ‘ROCKET FUEL’ TO GOLD’S PRICE, WRITER SAYS Precious metals prices were down this morning, after the Gold price failed to push through a key resistance level yesterday. U.S. stock futures gave up some gains after a report on Read More
Closing Gold & Silver Market Report – 3/27/2012
CONSUMER CONFIDENCE DROPS, INFLATION CONCERNS RISE A report released today from The Conference Board industry group showed consumer confidence dropping and Read More
Mid-Day Gold & Silver Market Report – 3/27/2012
GOLD DIPS ON FED REMARKS; STOCKS DOWN ON CONSUMER CONFIDENCE, HOME PRICE DATA Since the posting of the Morning Gold & Silver Market Report, the Gold price has seen a dip, pushed lower by remarks from U.S. Federal Reserve Chairman Ben Bernanke and less-than-rosy data on consumer confidence and home prices. The Fed chairman essentially assured th... Read More
Morning Gold & Silver Market Report – 3/27/2012
FED CHAIRMAN’S COMMENTS SUPPORTING GOLD, HAMPERING STOCKS Gold is gaining some ground this morning, continuing to be boosted by yesterday’s comments by Federal Reserve Chairman Ben Bernanke. Bayram Dincer of LGT Capital Management said, “The possibility of accommodative monetary policy if certain conditions, such as employ... Read More
Closing Gold & Silver Market Report – 3/26/2012
NOTED INVESTOR EMBRACING GOLD AGAIN ON FED CHAIRMAN’S COMMENTS Precious metals prices have been on the rise throughout afternoon trading on the heels of the potential for further monetary easing that Federal Reserve Chairman Ben Bernanke spoke of earlier today. That news led noted investor Dennis Gartman change his previously held position and re-enter the American Gold market. He said, “Sometimes you get lucky. … Read More
Mid-Day Gold & Silver Market Report 3/26/2012
U.S. ECONOMY DRAWING MIXED VIEWS Gold’s price is up more than 1 percent today thanks to a stronger euro and comments from Federal Reserve Chairman Ben Bernanke, who is calling for faster U.S. economic growth. “I think it (Gold’s price rose) on the back of Bernanke’s comments, which people have taken to mean that further funding might be required,” said Simon Weeks, head of precious metals at Scotia Mocatta. “I think people have taken that to mean that Read More
Morning Gold & Silver Market Report – 3/26/2012
MARKETS CLIMB AFTER FED CHAIRMAN’S REMARKS Speaking this morning in Washington, D.C., Federal Reserve Chairman Ben Bernanke expressed concerns that the recent trend in job growth can be sustained. The primary factor behind the weak job market is weak demand and not structural, such as the lack of skills in the workforce. Bernanke s... Read More
Closing Gold & Silver Market Report – 3/23/2012
GOLD RISES ON DOLLAR’S DROP; IRAN USING GOLD TO GET AROUND SANCTIONS Precious metals prices have been on the rise today and are set to close higher, curbing the three-week overall decline. The climb today was relative to sharp movements in markets. Oil prices rose, and the dollar’s value dropped. The poor showing in home sales data has rekindled hopes the Fed will offer more easing. Head of commodity research Nic Brown of Natixis in London said, “We th... Read More
Mid-Day Gold & Silver Market Report 3/23/2012
ANALYST SEES GOLD PRICE ADVANCING Gold’s price was rising following positive movement of the euro. Recent optimistic data is boosting hopes for a stronger U.S. economic future, which in turn has pushed the yellow metal down by nearly 3 percent this month. “We don't see a huge amount of downside for Gold prices from current levels, and we would be lookin... Read More
Morning Gold & Silver Market Report – 3/23/2012
STOCKS DECLINE NOT SURPRISING; EASY MONETARY POLICY COULD BE DETRIMENTAL TO U.S. U.S. stock futures are pointing towards an uneventful start for Wall Street this morning. Unease has entered the markets, and Rebecca O’Keefe of Interactive Investor isn’t shocked. “The six-month equity rally has been built on lower-than-norm... Read More
Closing Gold & Silver Market Report – 3/22/2012
FED REASSURES ON VOLCKER RULE; IRELAND IN ANOTHER RECESSION Since the Mid-Day Gold & Silver Market Report, prices for precious metals have edged up slightly. The stronger dollar pushed Gold down today, although today’s session saw the dollar give ground versus other currencies in the end, Read More
Mid-Day Gold & Silver Market Report 3/22/2012
CRUDE OIL PRICES FALL; CONTAGION FEARS GROW FOR EUROZONE Precious metals prices remain down across the board following this morning’s trading. Indications of slowing growth in China and Germany strengthened the U.S. dollar, which pushed the price of Gold down. The Gold price traditionally moves opposite of the U.S. dollar. Crud... Read More
Morning Gold & Silver Market Report – 3/22/2012
GOLD LOWER ON PROFIT-TAKING; CHINA’S ECONOMY CONTRACTING? Precious metals fell in overnight trading, as less-than-promising Chinese factory data has caused many investors to cash out their positions for profit-taking purposes. Many investors are awaiting European data to see how the eurozone is faring after the Greek bailout deal. Yuichi Ikemizu, head of commodity trading, said, “A lot of people are on the sidelines at the moment. … We saw some bearish... Read More
Closing Gold & Silver Market Report – 3/21/12
WEAK SUPPLY BOOSTS OIL PRICES; GOLD, SILVER PRICES STEADY A weekly government report showing a surprising decline in oil inventories sent the price of crude oil futures upward. Prices reached as high as $106.91 on the New York Mercantile Exchange. The Energy Information Administration also reported that gasoline stockp... Read More
Mid-Day Gold & Silver Market Report 3/21/2012
GOLD MERITS POSITIVE OUTLOOK; SURVEY SHOWS U.S. CONFIDENCE The Gold price is slowly moving higher today. The precious metal received a positive outlook from the Australian Bureau of Resources and Energy Economics. The bureau said today that Gold prices will average 16 percent higher in 2012 at about $1,810 an... Read More
Morning Gold & Silver Market Report – 3/21/2012
GOLD STEADY; BERNANKE GIVES ADVICE TO EUROPE Gold is relatively steady this morning, while silver is up about one percent. The euro is looking stronger against the dollar, but the slump in gold demand due to the strike of Indian jewelers seems to be limiting gold’s push higher for the moment. Matthew Turner, an analyst at Mitsubishi, believes that a return of Europe’s debt crisis would be a “... Read More
Closing Gold & Silver Market Report – 3/20/2012
U.S. EXEMPTS JAPAN, 10 EU NATIONS FROM IRAN OIL SANCTIONS Precious metals prices have continued to fall in afternoon trading on tempered housing optimism and rising dollar hint at economic recovery. Saxo Bank senior manager Ole Hansen said, “It’s very much intraday movements related to the ups and downs of the dollar, which is setting the agenda for the time being. … We are going to see a bu... Read More
Mid-Day Gold & Silver Market Report 3/20/2012
OIL PRICES DROP; GOLD JEWELERS CONTINUE STRIKE IN INDIA Precious metals prices remained down following this morning’s trend. Gold’s price has been affected by a stronger U.S. dollar and lower oil prices. Oil prices have dropped from a three-week high, with U.S. crude supply increasing and an assumption that Saudi Arabia will boost its oil output. “The market is currently well-supplied with oil, but supply disruptions and looming supply shortage f... Read More
Morning Gold & Silver Market Report – 3/20/2012
COULD OIL PRICE HIKES PAVE WAY FOR GOLD TO FOLLOW? U.S. stock futures and commodities (including precious metals) across the board are trading lower this morning. Peter Cardillo of Rockwell Global Capital said, “I think it’s just a normal pullback on weaker commodity prices due after a long run-up (in stocks). Housing da... Read More
Closing Gold & Silver Market Report – 3/19/2012
GOLD ENTICING BARGAIN HUNTERS; STOCKS’ EARNINGS SEASON LOOKING FLAT The Gold price has remained steady since the posting of the Mid-Day Gold & Silver Market Report, with the price for the precious metal ending today’s session in positive territory. Rohit Savant, an analyst with CPM Group in New York, said, “A lot of it has to do with bargain hunting... Read More
Mid-Day Gold & Silver Market Report 3/19/2012
CENTRAL BANKS BUYING GOLD WHILE PRICES ARE LOW Precious metals prices have moved little through this morning. In the past few weeks, Gold has been experiencing a positive correlation to Treasury prices, which means Gold likely will follow the trend of U.S. bond prices. According to the Financial Times, an industry source reported in recent weeks that central banks have been buying Gold... Read More
Morning Gold & Silver Market Report – 3/19/2012
MARKETS OFF TO SLOW START; SILVER SLIGHTLY DOWN U.S. stock futures are heading lower this morning, as precious metals prices remain steady. Investors have experienced some strong gains in the past several weeks, and it could be they need to take a breather. Bill Gross, chief executive of PIMCO, the world’s largest bond fund, is forecasting for 2012 another round or two of Read More
Closing Gold & Silver Market Report – 3/16/2012
PRECIOUS METALS PRICES REMAIN STEADY; OIL CONCERNS RISE Precious metals prices remained relatively steady in afternoon trading. Technical selling to balance portfolios after a week of rising oil prices, the dollar’s decline in value and better than expected consumer prices pushed investors towards selling their positions to cover shortcomings throughout the week. These concerns and issues generally tend to point towards ... Read More
Mid-Day Gold & Silver Market Report – 3/16/2012
INDIA PLANS GOLD TAX HIKE; OIL PRICES RESUME CLIMB The Gold price was still down at midday trading on a one-two punch of increased duties on bullion in India and continued upbeat U.S. economic data. India’s Finance Minister Pranab Mukherjee unveiled India’s 2012-13 budget today, which called for an increase in taxes on Gold. This would mark the second tim... Read More
Morning Gold & Silver Market Report – 3/16/2012
CONSUMER PRICES FLAT; SYRIAN BLOODSHED CONTINUES; N. KOREA PLANS ROCKET LAUNCH Precious metals prices moved lower in overnight trading, and remained so after the latest consumer price index (CPI) report was released. Forecasters expected the CPI would rise about 0.5 percent, and the number came in at 0.4 percent. Co... Read More
Closing Gold & Silver Market Report – 3/15/2012
BARGAIN HUNTING LIFTS GOLD PRICE; OIL RELEASE REPORT ‘INACCURATE’ The Gold price has continued to climb since the Mid-Day Gold & Silver Market Report. Prices have trended downward this week as investors sold off Gold in response to Federal Reserve meeting Tuesday. However, the metal bounced back today as a result of purchases by bargain... Read More
Mid-Day Gold & Silver Market Report – 3/15/2012
GOLD PRICE HOLDS STEADY; U.S., U.K. TO RELEASE OIL Gold has continued to hold onto modest opening gains, as the drop from previous sessions is attracting bargain hunters. The metal may be vulnerable to more selling, if easing expectations continue to fade and the dollar continues to strengthen. In a note to its investors, Commerzbank wrote, “As the price falls below important support levels, we may see further selling on the part of money managers. We ... Read More
Morning Gold & Silver Market Report – 3/15/2012
U.S. JOBLESS CLAIMS DIP; EU TAXPAYERS TAKE HIT U.S. stock futures rose after the weekly report on jobless claims was released. Although last week’s claims number was revised slightly upward, the drop this week of 14,000 matches a four-year low. Read More
Closing Gold & Silver Market Report – 3/14/2012
PLATINUM MAINTAINS LEAD OVER GOLD; TREASURIES FORETELL HIGHER RATES? Since the Mid-Day Gold & Silver Market Report, prices for the four precious metals have continued to decline, with Gold in particular ending the day down more than $50. The dollar continued to gain strength today as it reacted to yesterday’s news from the Federal Reserve that interest rates w... Read More
Mid-Day Gold & Silver Market Report – 3/14/2012
PRECIOUS METALS TUMBLE; ECONOMY IMPROVING? Precious metals prices have reacted to Tuesday’s meeting of the Federal Open Market Committee (FOMC). Late Tuesday afternoon, prices began to drop. Prices leveled a bit this morning but have started falling over the course of this morning. Saxo Bank’s Ole Hansen said, “We saw the 10-year (U.S.) government bond yield breaking out of the holding pattern it’s been trading in for the last five or six months. That’s one of the... Read More
Morning Gold & Silver Market Report – 3/14/2012
GOLD, SILVER DIP ON ECONOMIC OPTIMISM Gold and Silver prices were plunging as a result of new optimism for the economic recovery in the U.S. and around the world. Tuesday, Federal Reserve Chairman Ben Bernanke diminished the likelihood of QE3. Bernanke continued his position that the economy was recovering, although slower than many might like, but still quickly enough not to require further... Read More
Closing Gold & Silver Market Report – 3/13/2012
GOLD DROPS BELOW $1,700 PER OUNCE; NO QE3 SIGNS FROM FED After today’s Federal Reserve meeting today came and went without any hints of future quantitative easing, the price of Gold declined significantly in afternoon trading, ending the day below $1,700 per ounce. Gold historically moves opposite the U.S. dollar, and with the dollar up after today’s ... Read More
Mid-Day Gold & Silver Market Report – 3/13/2012
PLATINUM OVERTAKES GOLD; STRONGER DOLLAR ANTICIPATED Platinum appears to be leading the midday charge, as its price climbed above the Gold price for the first time in six months. Platinum’s price increase has been propelled by supply and production issues in South Africa. Nic Brown at Natixis said, “We have been ragingly bullish on Platinum this year. We perhaps got in a tiny bit too early, ... Read More
Morning Gold & Silver Market Report – 3/13/2012
GOLD WAITING ON FED CHAIRMAN’S WORDS; SPAIN’S PROBLEMS WORSE THAN GREECE’S Gold has seen mixed trading overnight and was sitting lower than yesterday’s closing price this morning. The Federal Open Market Committee (FOMC) meeting later today isn’t expected to produce any substantial news. The likelihood of further monetary easing by the Federal Reserve has taken a hit with the best six-month period of job gains in nearly six years. Nic Brown of Natixis ... Read More
Closing Gold & Silver Market Report – 3/12/2012
MARKETS SLIP ON CHINESE DEFICIT NEWS; THIRD GREEK BAILOUT HINTED Precious metals prices have generally held steady since the Mid-Day Gold & Silver Market Report, with Gold, Silver, and Platinum experiencing slight gains since noon. Only Palladium dipped further in afternoon trading. Prices for precious metals and stocks were down today in response to data... Read More
Mid-Day Gold & Silver Market Report – 3/12/2012
FED TO MEET TUESDAY; PORTUGAL NEXT IN DEBT-RELIEF LINE? Precious metals prices have remained relatively steady through morning trading, thanks to a fairly slow news day. But there remains an undercurrent of uncertainty affecting markets. The planned Federal Reserve meeting Tuesday is expected to be low key, and the Greek debt deal is proceeding in an orderly fashion. Low interest rates are viewed as a boost for Gold. Analyst Walter de Wet said, “We hav... Read More
Morning Gold & Silver Market Report – 3/12/2012
ANY EURO REBOUND LIKELY GOOD FOR GOLD The world’s largest banks are looking more favorably at the euro, as they see the European Central Bank (ECB) providing unlimited cash to the European financial system. Bloomberg news surveyed more than 50 strategists and reported that their median estimate predicts a stronger... Read More
Closing Gold & Silver Market Report – 3/9/2012
GREEK DEAL HAS SKEPTICS; JOBS REPORT BOOSTS MARKETS The Gold price has continued to climb since the Mid-Day Gold & Silver Market Report. News that more than 80 percent of Greece’s private bondholders have accepted the debt swap deal has pushed the precious metal’s price upward and possibly cleared the way for a new bailout. Although ... Read More
Mid-Day Gold & Silver Market Report – 3/9/2012
CHINA’S GROWTH SLOWS; GREECE TO REQUIRE THIRD BAILOUT? Gold has reversed course during midday trading, moving off the lows triggered by the better-than-expected U.S. jobs report. The domino effect of events starts with that report. More jobs gives speculators the sense that there will be higher demand for oil, which caused the pr... Read More
Morning Gold & Silver Market Report – 3/9/2012
GOLD, SILVER PRICES FALLING AFTER JOBS REPORT This morning’s jobs report came in slightly better than expectations, driving down precious metals prices. Economist had projected a net of 210,000 new jobs, and the number reported was 227,000. This was not enough to move the jobless rate off 8.3 percent, but the report still points to a slow recovery. The warming trend we experienc... Read More
Closing Gold & Silver Market Report – 3/8/2012
GREEK BONDHOLDERS ON BOARD; MARKETS RALLY ON NEWS Prices for precious metals continued to climb today. The growing optimism over Greece completing its debt-swap deal with private bondholders has helped strengthen the euro. Gold and the euro historically have had a positive correlation to one another, and the recent rise an... Read More
Mid-Day Gold & Silver Market Report - 3/8/2012
INVESTORS STEER TOWARD GOLD; OUTLOOK FOR GREEK DEAL ENCOURAGING Precious metals prices are up following morning trends. For the past two days, the U.S. dollar’s strength has decreased compared to the euro, which has pushed Gold up. Investors seem to be feeling more comfortable with the yellow metal versus green paper. Greece is working constructively on its debt bond swap, and it appears the deal may reach a successful closure by today’s deadline... Read More
Morning Gold & Silver Market Report – 3/8/2012
JOBLESS CLAIMS REPORT DISAPPOINTS; GOLD, SILVER GAIN New claims for unemployment benefits took a surprising turn upward for last week, increasing by 8,000. Although not considered significant enough to change perceptions that the job market is improving, it still went in the wrong direction. Economists polled by Reuters expected the number of claims to re... Read More
Closing Gold & Silver Market Report – 3/7/2012
SOME HEDGE FUNDS REFUSING GREEK SWAP; QE3 MORE LIKELY? In afternoon trading, prices of the four precious metals were pushed upward as markets reacted to private-sector job numbers and news that the Federal Reserve is considering a new program of bond buying. The Gold price broke a three-day downward trend, ending the day up by nearly $12. The price for the met... Read More
Mid-Day Gold & Silver Market Report – 3/7/2012
OPTIMISM SEEN IN GREECE; CHINA RAILS AGAINST U.S. TRADE Precious metals have maintained their positions in positive territory today. The euro recovery and physical demand out of Asia are keeping prices higher. The jobs data announced earlier today and the growing support for consolidating Greek debt has helped the overall outlook for Gold. Trader Frank Lesh said, “There is some positive news out there for the economy, and that is Read More
Morning Gold & Silver Market Report – 3/7/2012
DEADLINE TODAY FOR GREEK BONDHOLDERS U.S. stock futures are up this morning, after the stock market’s biggest one-day drop of the year. Precious metals also are trading higher. The ADP private-sector jobs report was released this morning and had little to no effect on precious metals or stocks. Howev... Read More
Closing Gold & Silver Market Report – 3/6/2012
STOCKS SEE BIGGEST LOSS OF 2012; GOLD, SILVER START TO RECOVER The stock market closed down more than 200 points today, its biggest loss of 2012. As reported throughout the day, the fear of a Greek default is rocking the stock markets and precious metals markets. Stocks are down on fears of what a Greek default might do to the fragile global economic recovery. Gold and Silver prices are down largely b... Read More
Mid-Day Gold & Silver Market Report 3/6/2012
METALS RATTLED BY UNCERTAINTIES OVER GREEK DEBT SWAP Precious metals prices are down across the board on concerns whether the Greek bond swap deal will be successful. Gold, Platinum, Palladium and Silver all experienced a hit, with prices down more than 2 percent. A combination of factors has affected the market today. Analysts at Barclays Capital said, “Uncertainty about Greece, a revision to China’s official growth forecasts, and elevated oil... Read More
Morning Gold & Silver Market Report – 3/6/2012
OBAMA, ISRAELI P.M. AGREE TO WATCH SANCTIONS ON IRAN Precious metals prices were down this morning, driven primarily over the growing economic concern over the debt resolution steps being taken in Greece, causing the euro’s value to drop. Oil prices are on the rise as well, due to Middle East instability, but safe-haven appeal of precious metals is being influenced by exchange rate issues this morning. Analyst David Wilson said, Read More
Closing Gold & Silver Market Report – 3/5/2012
GOLD PRICE CLOSES ABOVE $1,700; STOCKS FALL ON CHINA, U.S. NEWS Since the Mid-Day Gold & Silver Market Report, the price of Gold climbed to end the day above $1,700. Markets across the board have been weighed down by depressing data released in the U.S., as well as from China and Europe. The Gold price fell sharply last week in response to testimony... Read More
Mid-Day Gold & Silver Market Report 3/5/2012
GREECE OPTIMISTIC ON SOVEREIGN DEBT DEAL Precious metals prices are experiencing a small loss since this morning. Gold's price is declining on news that China is lowering its economic growth target for 2012 to 7.5 percent, which is the lowest level in seven years. Read More
Morning Gold & Silver Market Report – 3/5/2012
GOLD PRICE SLIGHTLY LOWER, SILVER SLIGHTLY UP IN EARLY TRADING Gold and Silver prices have been relatively stable in morning trading. Gold did dip below $1,700 before rebounding. Platinum and Palladium have taken sharper hits to their prices. Generally speaking, this lack of price movement occurs on days when there is a void of news affecting Gold and Silver. This was true this morning. Greece and oil remain the top headlines. The popular notion that a sol... Read More
Closing Gold & Silver Market Report – 3/2/2012
DOLLAR RISES ALONG WITH CONCERNS OVER MIDDLE EAST Precious metals prices have remained relatively steady today with technical selling to balance investors’ books for week’s-end profit-taking. The dip in stock markets is attributed to many investors feeling the rally was moving faster than the actual global growth outlook. Money manager John Carey said, “Some people may think that the Read More
Mid-Day Gold & Silver Market Report 3/2/2012
SAN FRANCISCO FED PRESIDENT HOPEFUL; GOLD STILL FAVORABLE ASSET Precious metals prices are slowly dropping, following this morning’s trend. Gold’s price drop is coming from a stronger U.S. dollar, and the price movement supports the inverse correlation between the two. Federal Reserve Chairman Ben Bernanke indicated this week that additional actions to assist with economic recovery need not be implemented at this time. In the past, the Fed ... Read More
Morning Gold & Silver Market Report – 3/2/2012
GOLD’S BUYING OPPORTUNITY MAY NOT BE OVER Gold and Silver are giving back yesterday’s gains this morning, while U.S. stock futures trade lower. A strengthening U.S. dollar is the likely cause of Gold and Silver’s decline, as currency markets have recently been the controlling factor in the prices of the metals. One analyst, James Steel, believes that Read More
Closing Gold & Silver Market Report – 3/1/2012
GOLD, OTHER METALS END THE DAY UP; IMF SAYS EUROPE STILL A THREAT Prices for all four precious metals ended the day up in afternoon trading, with Silver and Platinum in particular both continuing to gain since the posting of the Read More
Mid–Day Gold & Silver Market Report – 3/1/2012
GOLD, SILVER PRICES RECOVERING FROM WEDNESDAY’S DOWNTURN Gold and Silver prices have been moving up through the morning, recovering from yesterday’s significant move down. Comments made by Federal Reserve Chairman Ben Bernanke are widely viewed as the cause of the strong sell-off, and Bernanke is back speaking before Congress today. There is strong interest as to whether Bernanke’s tone will remain th... Read More
Morning Gold & Silver Market Report – 3/1/2012
IRAN SANCTIONS ALREADY EFFECTIVE; QE3 SQUELCHED? Precious metals prices have rebounded slightly today from Wednesday’s volatility. The Gold market was largely influenced by the perception presented in previous remarks by Federal Reserve Chairman Ben Bernanke, but were almost roundly squelched in prepared statements before a House of Representatives panel yesterday. Today, Bernanke is scheduled to sit in front of Senate members. Echoing that perception,... Read More
Closing Gold & Silver Market Report – 2/29/2012
SHARP SELL-OFF FOR GOLD, SILVER; FANNIE MAE TO SEEK $4.6 BILLION Gold and Silver experienced drastic sell-offs today after testimony by Federal Reserve Chairman Ben Bernanke before the House Financial Services Committee. Bernanke indicated that the Fed is not likely to consider a third round of quantitative easing. Prices for Gold and Silver ended at their lowest points since December. With the view o... Read More
FLASH: Gold Falls Below $1,700; Silver Below $35
In most cases, when Federal Reserve Chairman Ben Bernanke speaks, precious metals prices go up. But not today. Bernanke’s comments have created a sharp selloff in Gold and Silver. In testimony before a congressional committee, Bernanke said he would not take the possibility of QE3 off the table, but his comments have been interpreted to mean that another round of quantitative easing is unlikely. “Bernanke said that another round of bond buying ... Read More
Mid-Day Gold & Silver Market Report 2/29/2012
GOLD DIPS AS FED CHAIRMAN SPEAKS As Federal Reserve Board Chairman Ben Bernanke spoke to the House Financial Services Committee this morning, the Gold price took a quick dive. At one point, Gold was down more than $70 per ounce. On the labor market, Bernanke said, “The job market remains far from normal,” as the unemployment rate has dropped to 8.3 percent in January from a staggering 9 percent for the majority of 2011. On the economy, he said, “ Read More
Morning Gold & Silver Market Report – 2/29/2012
GOLD PRICE DROPS AS FED CHAIRMAN’S TESTIMONY BEGINS Precious metals prices lost ground in trading this morning as Federal Reserve Chairman Ben Bernanke began testifying before the House Financial Services Committee. The Gold price dropped as much as $70 per ounce at one point, but the price had started to regain some of the loss by late morning. Prices for Silver, Platinum and Palladium also dropped. However, 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.
