Precious Metals Market Reports
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
Closing Gold & Silver Market Report – 2/28/2012
Gold Hits a Three Month High, Silver a Four Month High; Pimco CEO Says Greek Bailout Will Fail Shaking off yesterday’s downward ending, the price of Gold ended the afternoon at its highest point in three months. With analysts saying that long-term support for gold is solid, investors took advantage of the previous two sessions’ price drops and enthusiastically purchased... Read More
Mid-Day Gold & Silver Market Report – 2/28/2012
GOLD UP, OIL DOWN; FED CHAIRMAN TO SPEAK Precious metals prices have been on the rise since the Morning Gold & Silver Market Report. This would seem to be a precursor to Federal Reserve Chairman Ben Bernanke’s upcoming semi-annual monetary policy report to the House of Representatives tomorrow and the Senate the following day. There is also an i... Read More
Morning Gold & Silver Market Report – 2/28/2012
OIL, GOLD BUCK TREND; DURABLE GOODS ORDERS DROP All precious metals are enjoying gains this morning, with Silver leading the pack. Peter Fertig of Quantitative Commodity Research Ltd. said, “The euro is stronger against the dollar, and that’s one of the major supportive factors.” Fertig said higher equitie... Read More
Closing Gold & Silver Market Report – 2/27/2012
GOLD PRICE RISE SEEN THIS WEEK; BEARS PREDICT MARKET CORRECTION After significant gains pushed Gold to end the previous week up by 2.9 percent, profit-taking by investors caused the price to end the day slightly down in afternoon trading. The metal ended the day down just 0.1 percent based on Gold futures for April delivery. Platinum a... Read More
Mid-Day Gold & Silver Market Report 2/27/2012
PLATINUM MINE TO REHIRE STRIKERS; GERMAN VOTE SUPPORTS SECOND GREEK BAILOUT Precious metals prices were holding steady with little fluctuation. Gold’s price is primarily being affected by Europe’s debt crisis and high crude oil prices. The speculation that crude oil could increase to $5 a gallon by summer concerns many U.S. residents, because some will not be able to pay a higher bill at the gasoline pump. There is fear that the nation may be heading backward ra... Read More
Morning Gold & Silver Market Report – 2/27/2012
OIL PRICE KEEPS RISING; GOLD, SILVER PRICES SOFTEN Oil prices have gone up the past two weeks and look as if they might make a run at a third consecutive week. A CNBC poll showed 75 percent of analysts and traders are expecting higher prices this week. There is concern that rising oil prices could put the brakes on a fragile global economic recovery. The United States has experienced sharp price hikes... Read More
Closing Gold & Silver Market Report – 2/24/2012
GREEK FALLOUT NIPS INVESTOR CONFIDENCE There is an unintended consequence of restructuring the Greek debt that has not received a great deal of attention. To put it simply, private bond investors are going to be more cautious and more demanding when they lo... Read More
Mid-Day Gold & Silver Market Report 2/24/2012
SILVER PRICE UP 7.1% IN WEEK; U.S. CONSUMER CONFIDENCE UP The Gold price is slightly down today as it tries to sustain this week’s gain. LGT Capital Management analyst Bayram Dincer said investors were moving into Gold on the back of expectations for further monetary easing in the United States and the eurozone. “It is really monetary (policy) expectations that are making the investment rationale for Gold,” he said. Read More
Morning Gold & Silver Market Report – 2/24/2012
ECB PRESIDENT SEES HIGH UNCERTAINTY IN EUROZONE Precious metals are trading down across the board this morning, while U.S. stock futures are gaining ahead of economic data to be released this morning. David Morrison, senior market strategist at GFT Markets, believes that recent actions by central banks of the world to increase liq... Read More
Closing Gold & Silver Market Report – 2/23/2012
ANOTHER 3-MONTH HIGH FOR GOLD; ECONOMISTS WARY ON STEADY JOBLESS CLAIMS The Gold price reached another three-month high today, helped upward by the dollar’s weakness and a belief that central banks around the world will continue current loose monetary policies. Read More
Mid-Day Gold & Silver Market Report – 2/23/2012
GREEK DEBT WRITE-OFF BEGINS; OIL PUSHES GOLD HIGHER Precious metals prices are on the move upward again today. A number of factors are leading to that trend, most notably the rising Middle East tension, Greek debt resolution and technical buying. RBS strategist Nikos Kavalis said, “The fact that we have Iran in the background is certainly helping through higher oil prices, which are a negative for most other industrial commodities. But Read More
Morning Gold & Silver Market Report – 2/23/2012
JOBLESS CLAIMS UNCHANGED FROM LAST WEEK The number of new claims for unemployment benefits in the United States was unchanged from last week. Claims have held at the lowest levels since 2008. Economists polled by Reuters had expected claims to rise slightly from 351,000 to 354,000, so there is renewed hope that the U.S. job sector might be turning the corner. The European Commission... Read More
Closing Gold & Silver Market Report – 2/22/2012
GOLD SETTLES AT THREE-MONTH HIGH; SKEPTICISM ON GREECE JUSTIFIED, PIMCO CEO SAYS After a sluggish performance earlier in the day, Gold settled at a three-month high this afternoon. With investors engaging in profit-taking in the wake of fading enthusiasm for Greece’s bailout agreement and the release of less-than-positive economic data from China, bargain hunters push... Read More
Mid-Day Gold & Silver Market Report 2/22/2012
GREEK PROTESTS PLANNED; DEFAULT SWAPS ARE CONCERN Precious metals prices have moved little today with the exception of Platinum’s, which is up considerably since this morning. Platinum’s price has rallied due to a labor dispute at one of the world’s largest Platinum mines, Impala Platinum’s Rustenberg Facility. The disagreement at the mine has led to a loss of 80,000 ounces in output. Credit... Read More
Morning Gold & Silver Market Report – 2/22/2012
GOLDMAN SACHS SEES SLOW U.S. GROWTH, HIGHER GOLD PRICE IN 2012 Precious metals are experiencing mixed trading this morning, with Gold and Palladium relatively flat, Silver down about 1 percent, and Platinum up about 1 percent. For Gold, the concerns over the state of European debt have brought down the value of the euro. Sharps Pixley Chief Executive Ro... Read More
Closing Gold & Silver Market Report – 2/21/2012
GOLD, SILVER PRICES HEAD HIGHER THROUGH DAY The headlines give the Greek bailout settlement credit for the big move in Gold and Silver prices today, and that was no doubt a factor. However, the wise investor might look deeper. These prices might reflect a world in constant turmoil, and this Greek package (which is not fully approved), might be but a small contributor. Oil prices are beginning to rise ... Read More
Mid-Day Gold & Silver Market Report 2/21/2012
SILVER PRICE UP 20% IN JANUARY; GREECE DEAL GETS MIXED REVIEWS Precious metals prices continued to climb this morning. A deal was reached for the Greek bailout package, which encouraged a stronger euro and boosted Gold’s price. Andrey Kryuchenkov at VTB Capital said, “The biggest problem for Gold would be a stronger dollar. I remain bullish in the... Read More
Morning Gold & Silver Market Report – 2/21/2012
PESSIMISM SURROUNDS GREEK BAILOUT; MORE THREATS FROM IRAN European stocks were trading flat this morning, and U.S. stock futures are pointing to a higher opening for Wall Street. Eurozone finance ministers finally approved a second bailout package for Greece late Monday, but pessimism still surrounds the announcement. This was perhaps best explain... Read More
Closing Gold & Silver Market Report – 2/20/2012
GOLD PRICE UP; ISRAEL MULLS ATTACK ON IRAN’S NUCLEAR PROGRAM Gold prices ended the day up, buoyed by a Chinese cut in lender reserve requirements and optimism in the markets that Greece’s bailout would be approved by eurozone finance ministers. In an e-mail today, William Adams, the head of research for FastMarkets.com, wrote, “The metals and mar... Read More
Mid-Day Gold & Silver Market Report – 2/20/2012
GREEK RESOLUTION SEEMS A DONE DEAL, BUT GAPS WILL REMAIN Precious metals prices continued to rally today on news that Greek debt resolution deal is almost a formality at this point. Consultant Paul Fertig reiterated that point, saying, “It seems today that eurozone finance ministers will approve the 130 billion-euro bailout package for Greece, and that should reduce fear in the financial markets and have a positive impact on the euro in particular. … T... Read More
Morning Gold & Silver Market Report – 2/20/2012
WEEKEND EVENTS PUSH GOLD, SILVER HIGHER The New York Stock Exchange is closed for President’s Day, but the precious metals market opened at its regularly scheduled time at 5 p.m. (CST) Sunday. Two events over the weekend pushed precious metals prices upward. First, the People’s Bank of China announced it was cutting major lender’s reserve require... Read More
Closing Gold & Silver Market Report – 2/17/2012
IS CHINA’S CENTRAL BANK BUILDING GOLD RESERVES? The first question might be, if the Chinese central bank is increasing Gold reserves, why is this significant? First and foremost, it could have a major effect on Gold prices. The Chinese central bank is the sixth-largest holder of Gold (relative to other central banks), but Gold represents less than 3 p... Read More
Mid-Day Gold & Silver Market Report – 2/17/2012
WHEN WILL GREEK BAILOUT FINALIZE? VOLATILITY ABOUNDS Precious metals have been relatively volatile this morning, while technical selling by investors to recoup losses and hopes for a Greek debt resolution continue to influence the markets. Credit Suisse analyst Tom Kendall said, “There is enough risk around the European side of things to keep Gold supported above $1,700, but we are whipping back and forth on whatever the mood seems to be Read More
Morning Gold & Silver Market Report – 2/17/2012
GOLD UP ON CHINESE DEMAND, GREEK SITUATION, INFLATION WORRIES Precious metals prices are trading higher this morning thanks to increasing demand, a stronger euro, and inflationary concerns. As mentioned yesterday, data from the World Gold Council showed that China and India generated 49 percent of demand for Gold as ... Read More
Closing Gold & Silver Market Report – 2/16/2012
MOODY’S WARNS OF RATINGS CUTS; PAYROLL TAX CUT DEAL REACHED Gold prices ended the day higher again today, pushed upward mid-session by a drop in the dollar, as well as the jump in oil prices brought on by the continued tension between Iran, Israel, and the U.S. “With the euro making a bit of recovery in the midday, Gold is getting support from the ... Read More
Mid-Day Gold & Silver Market Report – 2/16/2012
U.S. NURTURING GROWTH; GREEK BAILOUT GAP SEEN Precious metals prices have begun to rebound from the morning lows. The promising economic data that is being released has boosted stocks and pointed to a growing economy. Normally, Gold moves against the dollar, and with the euro dropping and dollar rising, that was the case earlier this morning. But Gold’s safe-haven appeal has boosted the metal as fears grow over a “hole” in the Greek bailout. Daniel Smith, an ... Read More
Morning Gold & Silver Market Report – 2/16/2012
GOLD BUYING IN CHINA, INDIA, EUROPE CREATES RECORD DEMAND IN 2011 According to the World’s Gold Council’s annual report, the demand for Gold reached an all-time high in 2011. This was largely because of increased buying in China, India and Europe. Germany and Switzerland were the leading buyers in Europe. The report states that the reason for the increased demand in that part of the world is related t... Read More
Closing Gold & Silver Market Report – 2/15/2012
GREECE FIGHTS TO SALVAGE BAILOUT; ANOTHER ROUND OF EASING BY THE FED? Continued uncertainty about Greece’s bailout and tension between Israel and Iran caused investors to turn to the safe haven of Gold today. The precious metal ended the day up by over $10. Prices for Silver and Platinum ended the day up, as well, with only Palladium experiencing a modest drop. Read More
Closing Gold & Silver Market Report – 2/15/2012
GREECE FIGHTS TO SALVAGE BAILOUT; ANOTHER ROUND OF EASING BY THE FED? Continued uncertainty about Greece’s bailout and tension between Israel and Iran caused investors to turn to the safe-haven of Gold today. The precious metal ended the day up by over $10. Prices for Silver and Platinum ended the day up as well, with only Palladium experiencing a modest drop. Read More
Mid-Day Gold & Silver Market Report 2/15/2012
GOLD IS BETTER STORE OF VALUE, ANALYST SAYS Gold has maintained its morning gains along with a stronger euro thanks to investors’ curiosity with Greece’s bailout situation. Today’s eurozone finance meeting was canceled and rescheduled as a conference call to discuss whether Greece’s leaders have made sufficient commitmen... Read More
Morning Gold & Silver Market Report – 2/15/2012
EUROPE GETS VOTE OF CONFIDENCE FROM CHINA Gold and Silver prices rose in overnight trading, and U.S. stock futures are higher after better-than-expected European economic data. German and French gross domestic product (GDP) numbers beat expectations, though the eurozone’s GDP as a whole contracted b... Read More
Closing Gold & Silver Market Report – 2/14/2012
GREEK BAILOUT DECISION DELAYED AGAIN; SYRIA HEADED FOR ALL-OUT WAR? Since the Mid-Day Gold & Silver Market Report, precious metals prices have climbed somewhat. Continued uncertainty over Greece’s debt bailout situation has buoyed the dollar, causing a corresponding drop in the price of Gold. However, one precious metals analyst said... Read More
Mid-Day Gold & Silver Market Report 2/14/2012
MOODY’S KEEPS WATCH ON U.K., FRANCE As the euro fell this morning, so did the price of Gold with the news that Moody’s credit rating agency may begin another round of credit rating downgrades in France and the United Kingdom. Lately, Gold has been more sensitive in price with moves in the euro/dollar exchange rate in the short term. In the pas... Read More
Morning Gold & Silver Market Report – 2/14/2012
EUROPEAN NATIONS NOT SOLD ON GREEK AUSTERITY Gold pared some losses this morning after reports on retail sales and import and export prices were released. Retail sales rose, though not as much as expected, and the government also revised downward the reading for sales in November. Import and export prices both rose, as well, fairly in line with analysts’ expectations, but those prices fell when no... Read More
Closing Gold & Silver Market Report – 2/13/2012
REPUBLICANS MAY FORGO SPENDING CUTS; OBAMA SEEKS TAX HIKE ON DIVIDENDS The Gold price continued creeping lower today, ending the day slightly down as investors were encouraged by Greece’s passage of austerity measures required as part of a European debt bailout deal. Despite the passage, there are doubts as whether they will be implemented. About... Read More
Mid-Day Gold & Silver Market Report – 2/13/2012
OBAMA’S BUDGET PROPOSAL NOT LIKELY TO PASS; GERMANY IRED BY GREEK INSULTS Precious metals prices have been on a short, choppy ride in morning trading. There has been quite a bit of volatility based on technical selling, budget proposals, concern with Greece, and to some extent supply (Platinum). COMEX floor trader Jonathan Jossen said price movement is “ Read More
Morning Gold & Silver Market Report – 2/13/2012
DOLLAR DECLINES, EURO UP ON GREEK AUSTERITY VOTE True to form, as the chances of a Greek bailout improve, the dollar goes down while pushing the value of the euro up. In early morning trading, both equity and precious metals markets are reacting by going higher. Greek lawmakers voted 199-74 to pass the measures demanded by eurozone... Read More
Closing Gold & Silver Market Report – 2/10/2012
S&P DOWNGRADES 34 ITALIAN BANKS Standard & Poor’s credit rating agency downgraded 34 Italian banks, saying, “Italy’s vulnerability to external financing risks has increased, given its high external public debt, resulting in Italian banks’ significantly diminished ability to roll over their wholesale debt.” Last month, S&P downgraded Italy’s sovere... Read More
Mid-Day Gold & Silver Market Report – 2/10/2012
GREEKS PUSH BACK ON AUSTERITY Precious metals prices have continued a downward slide after pushback was received in Greece’s Parliament over austerity measures put in place. Granted, the pushback is coming from minority party members, but at this point any pushback or non-implementation is going to be viewed as a negative. The tenuous situation has caused investors to sell the metal and hang on to cash. Bart Melek, head commodity strategist at TD Secur... Read More
Morning Gold & Silver Market Report – 2/10/2012
GREEK SAGA CONTINUES; GOLD, SILVER SHARPLY LOWER For weeks now, we have seen a similar pattern emerge in both the equity and precious metals markets. If it looks like a Greek debt deal is about to get done, Gold and Silver prices go up. If news comes out indicating it may not get done, Gold and Silver prices go down. Today, Gold, Silver and equity futures were heading lower as this yo-yo action contin... Read More
Closing Gold & Silver Market Report – 2/9/2012
SAME SONG, DIFFERENT TUNE Precious metals prices were mostly lower this afternoon on news that Greece had secured a debt-resolution deal and will implement austerity measures required to receive the second part of a 130 billion-euro bailout. Some people remain skeptical as to whether this will help Greece and the eurozone debt crisis or just kick the can farther down the road, keeping Gold from falling too far. Another scenario being contemplated is Read More
Mid-Day Gold & Silver Market Report – 2/9/2012
GREEK ODYSSEY GETTING OLD; IRAN TRADES GOLD FOR GOODS Precious metals prices have been on the rise as news continues to trickle out that Greece has reached a bailout deal, causing the euro to rise and the dollar to drop, enhancing the value of Gold. However, happiness with the deal will play a large part in the outcome for Gold. MLV & Co. senior research analyst Rick Trotman said, “If everyone is really happy with it, Gold could trade down. But if ... Read More
Morning Gold & Silver Market Report – 2/9/2012
JOBLESS CLAIMS FALL AGAIN; GREEK DEAL FINALLY REACHED U.S. stock futures rose and the U.S. dollar pared losses after the jobless claims report was released this morning. The report showed that claims fell by 15,000 last week, and the four-week moving average dropped by 11,000. The four-week average is typically seen ... Read More
Closing Gold & Silver Market Report – 2/8/2012
QE3 STILL POSSIBLE, FEDERAL RESERVE OFFICIAL SAYS John Williams, president of the San Francisco Federal Reserve Bank, said today that the Fed might need to launch a third round of asset purchases with printed money, commonly known as quantitative easing, if the economy slows and inflation remains below 2 percent. He said that buyin... Read More
Mid-Day Gold & Silver Market Report 2/8/2012
ANALYSTS PREDICT $1,880 FOR GOLD; GREEK CITIZENS FED UP The Gold price has continued to drop since this morning. A major factor driving Gold down is the ongoing impasse between the Greek government and the European Union in efforts to reach an agreement on monetary spending restraints so Greece can receive its second bailout package. However, Gold has been performing well recently. Gold’s rally has been an indication that investors are not particularly intereste... Read More
Morning Gold & Silver Market Report – 2/8/2012
GREECE MISSES DEADLINES; IRAN A MILITARY CONCERN? Precious metals prices have remained relatively steady in overnight trading. Greece’s difficulty in reaching an agreement on its debt crisis continues to be an albatross around the neck of the global economic outlook. Commodity strategist Jeff Friesen said, “If Greece were to agree on everything right away, I don't think it would solve everything, because they will still have to implement the measures. ... Read More
Closing Gold & Silver Market Report – 2/7/2012
MORE DELAYS FOR GREECE; PIMCO CEO FAVORS GOLD Gold continued its rise this afternoon, ending the day up as the dollar fell. According to Jim Steel, precious metals analyst with HSBC, “We are showing a quite strong rally in the gold market.” Steel pointed to Fed Chairman Ben Bernanke’s statements to Congress today that continued to indicate more monetary easing is on the way,... Read More
Mid-Day Gold & Silver Market Report – 2/7/2011
MIDDLE EAST IN FOREFRONT AGAIN; HOPE BUILDS ON GREEK DRAFT Precious metals prices are on the rise since the Morning Gold & Silver Market Report. Greek progress toward debt resolution, concerns over the Middle East and Federal Reserve Chairman Ben Bernanke’s congressional testimony have given metals prices traction in their climb highe... Read More
Morning Gold & Silver Market Report – 2/7/2012
GREEK DRAMA, CHINA’S HOARDING OF GOLD CONTINUES U.S. stock futures are trading lower this morning, as investors await Federal Reserve Chairman Ben Bernanke’s testimony before the Senate Budget Committee. Analysts are expecting a message similar to the one Bernanke gave to the House Budget Committee last week. UBS stra... Read More
Closing Gold & Silver Market Report – 2/6/2012
GREEK TRAGEDY BEFALLS STOCKS; TAX HIKE ON THE HORIZON? Prices for Gold dropped today in response to a rise in the dollar fueled by Greece’s lack of progress in coming to a bailout agreement. Along with other U.S. equities, Gold’s decline comes amid renewed worries that a Greek default could be in the offing and that debt contagion would spread to other European countries. Jason Schenker, president of ... Read More
Mid-Day Gold & Silver Market Report – 2/6/2012
WILL GLOBAL FEARS SPARK GOLD RALLY TODAY? Precious metals prices have begun to rally off morning lows on growing global economic and geopolitical fears. The Greek debt fears and rising tensions in the Middle East involving Syria and Iran are boosting the safe-haven appeal of precious metals. Gold is being bought by emerging-market central banks as a means to protect their economies from foreign sovereign... Read More
Morning Gold & Silver Market Report – 2/6/2012
Gold & Silver Retreat on Renewed Greek Debt Concerns For too many weekends in a row, the market has been lead to believe that a deal was imminent between Greece and its private creditors. Today, another deadline has moved on without a deal, and the European Union (EU) and the International Monetary Fund (IMF) are losing patience. French President Nicolas Sarkozy simply said, “We want an accord.” He further sta... Read More
Closing Gold & Silver Market Report – 2/3/2012
ANALYSTS QUESTION WHETHER WORST HAS PASSED IN U.S.; GREEK BAILOUT MORE THAN EXPECTED? Since the Mid-Day Gold & Silver Market Report, Gold prices continued to drop in response to the better-than-expected January U.S. unemployment report released this morning. Gold finished the day lower, experiencing its first drop in four sessions. Gold pr... Read More
Mid-Day Gold & Silver Market Report – 2/3/2012
MIXED REACTIONS ON IMPROVED U.S UNEMPLOYMENT DATA Precious metals prices reacted with a downward spiral today on the announcement that the unemployment rate dropped considerably for the fifth month in a row. There were mixed reactions in the political parties on what the unemployment rate actually is telling us regarding the condition of the U.S. economy. Alan Kreuger, chairman of President Barack Obama's Council... Read More
Morning Gold & Silver Market Report – 2/3/2012
UNEMPLOYMENT DIPS; IRAN ADDS TO TENSION WITH U.S. U.S. stock futures added to early morning gains after the release of the latest unemployment figures. Analysts had estimated that 121,000 jobs were added in January, but the report showed 243,000 new jobs, plus adjusted figures for November and December showing a... Read More
Closing Gold & Silver Market Report – 2/2/2012
Gold & Silver Up Ahead of Jobs Report While the stock market was relatively flat in anticipation of Friday’s government monthly employment report, gold and silver experienced solid gains on the day. Of course, rising gold and silver prices might have more to do with remarks by Federal Reserve Chairman Ben Bernanke. Testifying before Congress, Read More
Mid-Day Gold & Silver Market Report – 2/2/2012
GOLD, PLATINUM UP MORE THAN 10% IN 2012; PORTUGAL NEXT FOR BAILOUT? All precious metals are still in positive territory, as they were earlier this morning. Gold has risen close to 12% this year alone for several reasons. China’s demand in the retail sector is more than 50% greater than last year. India, the world’s largest Gold-buying country, increased its Gold consumption when its currency became stronger. There also is greater demand from Asia. Anne... Read More
Morning Gold & Silver Market Report – 2/2/2012
BERNANKE WARNS CONGRESS OF ‘SUDDEN FISCAL CRISIS' Precious metals prices gained this morning amid a speech by Federal Reserve Chairman Ben Bernanke. Bernanke warned Congress that unless fiscal policy is on a sustainable path, this country is at a risk of a sudden fiscal crisis. “Although historical experience and economic the... Read More
Closing Gold & Silver Market Report – 2/1/2012
DOLLAR FALLS AS EUROPE LOOKS MORE STABLE Precious metals prices rose slightly today as the market absorbed positive news surrounding the German economy. This news gave investors a sense of stability in European markets, as investors are hopeful that a resolution to the ongoing saga of European debt wil... Read More
Mid–Day Gold & Silver Market Report – 2/1/2012
OBAMA PUSHES MORTGAGE PLAN; IS THE DOLLAR BILL DOOMED? Precious metals prices were holding steady this afternoon compared with this morning’s prices. However, despite the lack of fluctuation, this past month has been the strongest January for Gold in more than 30 years. The price of Gold rose more than 11% for the month, the largest gain since August 2011... Read More
Morning Gold & Silver Market Report – 2/1/2012
GOLD HAS HIGHEST GAIN IN JANUARY IN 32 YEARS! Precious metals prices were trading higher this morning. The euro was supported by relatively strong German economic data. However, concerns persist over the economic situations in Greece and Portugal, which are viewed as positives for Gold. That feeling is supported by Commerzbank analysts. In a note to investors, they wrote, “Concerns about Greece and Portugal are keeping demand for Gold high and supporti... Read More
Closing Gold & Silver Market Report – 1/31/2012
GOLD EDGES AHEAD AS OIL PRICES DIP Precious metals prices have stayed fairly steady this afternoon, with Gold showing a slight rise. Oil prices fell toward the end of today after the U.S. dollar rose and more negative news about... Read More
Mid-Day Gold & Silver Market Report – 1/31/2012
SILVER DEMAND RISING; GOLD GETTING FRESH START Industrial demand for Silver is hitting a record high as the metal is being used in solar-panel products that will power 20 million homes, creating a spark of interest from investors. Barclays Capital estimates manufacturers will use 2.5% of Silver produc... Read More
Morning Gold & Silver Market Report – 1/31/2012
GOLD, EURO HIGHER, BUT SO IS EUROZONE UNEMPLOYMENT Gold is trading higher this morning, tracking the euro, which is benefitting from fresh hopes on a resolution to Greece’s debt crisis and the new EU fiscal unity treaty. The euro may also be reacting to positive news out of Germany, where unemployment levels reached a 20-year low in January. Read More
Closing Gold & Silver Market Report – 1/30/2012
CAN AUSTERITY COEXIST WITH GROWTH IN EUROPE? Precious metals prices have remained relatively steady this afternoon, as many analysts are looking for some resolution in the eurozone. With the boost Gold received from the Federal Reserve statement late last week, it still is viewed as being directly tied to what is going on in Europe. The main obstacle is the lack of resolution surrounding the Greece debt crisis. Credit Suisse analyst Tom Kendall said, “... Read More
Mid-Day Gold & Silver Market Report – 1/30/2012
EUROZONE LIKE SLOW-MOTION TRAIN WRECK; ANALYST BULLISH ON GOLD Gold seems to be resisting a correction in price, as it is only slightly down since this morning. RBS analyst Nikos Kavalis said, “Without a doubt, this morning the main story is the risk sell-off, whether we like it or not these days, on … what concerns there are towards the euro and euro zone.” UBS ... Read More
Morning Gold & Silver Market Report – 1/30/2012
Gold & Silver Prices Decline Slightly in Early Trading Although it is being reported that Greece and its private creditors are close to a deal, no deal was completed over the weekend. This, along with growing concerns about the world economy and sent the euro and world stocks lower in morning trading. As it has been lately, as so goes the euro, so goes gold and... Read More
Closing Gold & Silver Market Report – 1/27/2012
GOLD, SILVER PRICES POST GAINS Gold and Silver prices tried to give back recent gains today, but market news would not allow it. Both Gold and Silver climbed out of negative territory and posted nice gains on the day. The Fitch Ratings downgrade of Italy, Spain and three other European countries did not shake the stock markets as much as many analysts would have thought, but it did cont... Read More
Mid-Day Gold & Silver Market Report – 1/27/2012
FITCH RATINGS DOWNGRADES FIVE EURO NATIONS Precious metals prices have rebounded off this morning’s lows, continuing the upward trend of prices over the past few days. The Federal Reserve’s ultra-loose monetary policy as well as the recent announcement of further downgrades of European nations by Fitch Ratings, in conjunction with downgrades from Standard & Poor’s a couple of weeks ago, has boosted the appeal of Gold during this economic unce... Read More
Morning Gold & Silver Market Report – 1/27/2012
FASTEST INCREASE IN GDP IN 18 MONTHS STILL WORSE THAN EXPECTED Most U.S. stock futures turned lower after the fourth-quarter Gross Domestic Product report was released. The U.S. economy grew 2.8% in the fourth quarter of 2011. This was the fastest growth in 18 months, but economists were expecting an increase of 3%.... Read More
Closing Gold & Silver Market Report – 1/26/2012
FED’S EASING CAUSES TURMOIL FOR BANK STOCKS Precious metals prices have remained steady after this morning’s gains, after gains in the past two days related to the Federal Reserve’s position on the U.S. economy. While the Fed holds interest rates down, it opens the door to more fluidity of cash and lower prices for other currencies, making Gold more desirable as a protective asset. Read More
Mid-Day Gold & Silver Market Report – 1/26/2012
QE3 LOOKING MORE PROBABLE Precious metals prices continued their upward trend from this morning’s Gold & Silver Market Report. This was primarily due to the fallout from the Fed's perceived lack of confidence in the current economic condition. Although some economic data look good, the overall outlook remains poor, which is boo... Read More
Morning Gold & Silver Market Report – 1/26/2012
GOLD, SILVER CONTINUE TO EXTEND GAINS Gold and Silver prices began Wednesday morning in negative territory, but this changed immediately upon yesterday’s Federal Reserve announcement. The Federal Reserve announced that it would extend low interest rates well beyond 2013, to at least the end of 2014. Fed Chairman Ben Bernanke also made it clear that if further stimulus is necessary, the Fed is prepared to ... Read More
Closing Gold & Silver Market Report - 1/25/2012
GOLD UP OVER 7% IN NEW YEAR ON FEARS OF INFLATION Precious metals have continued to rally on the news that the Fed will not be raising interest rates anytime in the near future, continuing their program “Operation Twist” (swapping short-term bonds for longer-term treasuries). Low interest rates is the Fed’s idea of easing the blow of the financial crisis on our economy just like the Read More
Mid-Day Gold & Silver Market Report - 1/25/2012
GOLD PRICE EXCEEDS $1,700; SILVER CROSSES $33.00 Precious metal prices have all rebounded nicely from morning lows on the announcement from the U.S. Federal Reserve that the interest rates will not be raised until at least 2014. The Fed believes that the unemployment rate still needs to be controlled and anticipates that inflation will remain consistent with firm prices. The actions from the Federal Reserve shows ... Read More
Morning Gold & Silver Market Report – 1/25/2012
FED STANCE ON INTEREST RATES NOT EXPECTED TO CHANGE Precious metals markets are down this morning, and stock futures are also down as the Federal Reserve is slated to make a decision on interest rates today. “I think the economic and earnings news will direct another mixed session for stocks, as the [Federal Open Market Comm... Read More
Closing Gold & Silver Market Report – 1/24/2012
IS JAPAN NEXT UP IN DEBT-CRISIS LINE? Precious metals continued to trade lower this afternoon, still tracking the euro. The stalemate of debt negotiations in Greece caused the dollar to gain, pushing metal prices down for the moment. Adam Klopfenstein of Archer Financial Services Inc. said, “The markets are tak... Read More
Mid-Day Gold & Silver Market Report – 1/24/2012
IMF SEES GLOBAL RECESSION; FED STAYS THE COURSE Precious metals prices have begun to rebound from the morning lows reported in the Morning Gold & Silver Market Report. Gold in particular has been feeling the European pinch the past few days, but is waiting for investor demand to return after a tumultuous December. Read More
Morning Gold & Silver Market Report – 1/24/2012
GOLD, SILVER PRICES RETREAT WITH EURO European finance ministers rejected a proposal by the private holders of Greek debt and are balking at putting in additional public money if the private investors are not willing to take a bigger haircut. This news has sent European stocks down, along with the euro. The Greek de... Read More
Closing Gold & Silver Market Report – 1/23/2012
GOLD MAKES ITS MARK AS SAFE-HAVEN INVESTMENT Precious metals prices have stayed relatively steady in afternoon trading. Greece is facing more negative news, as it appears that country will not receive any more bailout help than is already planned because bondholders have made the “maximum offer” on the losses that they are able to withstand. Despite this news, 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.
