Precious Metals Market Reports
Closing Gold & Silver Market Report – 11/3/2011
Could Gold Be in for a Record Rally? A story in Bloomberg by Debarati Roy, indicates that gold could be headed to record prices by March, according to those with the most accurate record of forecasting gold prices. These forecasts are driven by a stagnating global economy and a long drawn out European debt crisis.... Read More
Mid Day Gold & Silver Market Report – 11/3/2011
Gold Prices Drift Slightly Higher in Morning Trading Greek Prime Minister George Papandreou is backing away from his plan to require a referendum to accept the European Union bailout offer. Papandreou has received harsh criticism from the opposition party ever since his surprise announcement. There were reports that the prime minister was on his way out. His own party members were defecting and he had lost his maj... Read More
Morning Gold & Silver Market Report – 11/3/2011
The Greek Government Could Be Heading for Collapse – Precious metals prices are moving upward as stocks are set to open flat. The European debt crisis took a strange turn several days ago when Greece said it had to think about accepting 50% forgiveness on its debt and an additional $130 billion euro loan. Now, it has turned even stranger, after defections from the ruling party have left Prime Minister Papandreou without a... Read More
Closing Gold & Silver Market Report – 11/2/2011
TO LEAVE OR NOT TO LEAVE, THAT IS THE QUESTION Precious metals continue to rise as the dollar fades, making it more affordable for investors to buy gold. Even though the Federal Reserve came out with positive comments on the U.S. economy, it did not deflect investors’ attention from the fact that the growth outlook for 2012 ... Read More
Mid-Day Gold & Silver Market Report – 11/2/2011
EU MEMBERS WANT GREEK ANSWERS; FED CAUTIOUS BUT STEADY Since the Morning Gold & Silver Market Report, precious metals prices have been on a steady rise, due in large part to the expanding safe-haven appeal of gold in volatile markets. The European debt crisis continues, and the Fed likes what it sees in U.S. economic news. Debt concerns have drawn “investors towards ... Read More
Morning Gold & Silver Market Report – 11/2/2011
SAFE-HAVEN APPEAL RETURNS ON MANY CONCERNS In overnight trading, precious metals prices have rebounded on a multitude of developing stories that have strong macroeconomic implications. Gold holdings have risen on the news. According to Dan Smith, head of metals research with Standard Chartered, "There is more of a risk aversion-type dynamic developing because of all the complications around Europe and with the Greek referendum on the cards. … All these things will bring some d... Read More
Closing Gold & Silver Market Report – 11/1/2011
MARKETS CRUMBLE ON PAPANDREOU’S AUSTERITY CURVEBALL Precious metals and stocks ended the day in negative territory on renewed fears of a Greek default. Precious metals fell initially but recovered throughout the trading day, with gold closing at only a modest loss. Silver traded in a wide range, at one point falling almost to $32.00 but closed the day at $33.46. Read More
Mid-Day Gold & Silver Market Report – 11/1/2011
ALL FOCUS BACK ON GREECE Precious metals prices have steadied quite a bit since the Morning Gold & Silver Market Report. Yesterday, there was a shift in focus from Greece to Italy. Today, all eyes are back on Greece after Prime Minister George Papandreou called for a referendum vote on the bailout package. Some are now calling for the ousting of Papandreou. The u... Read More
Morning Gold & Silver Market Report – 11/1/2011
GREEK PRIME MINISTER SURPRISES EURO ZONE, CALLS FOR A VOTE In overnight trading, precious metals are down as a result of a domino effect that started – where else? – in Europe. Greek Prime Minister George Papandreou shocked the euro zone when he called for a referendum on the bailout plan agreed upon last week. The Greek pe... Read More
Closing Gold & Silver Market Report – 10/31/2011
MAJOR PLAYER IN GLOBAL FINANCE DECLARES BANKRUPTCY MF Global, a multibillion-dollar trader in commodities and derivatives, filed for Chapter 11 bankruptcy protection today. The company was forced to take huge write-offs due to last week’s deal to prevent a Greek default. Part of the deal was for holders of Greek debt to voluntarily take a 50% write-off on the bonds... Read More
Mid-Day Gold & Silver Market Report – 10/31/2011
ITALY SQUARELY IN DEBT CRISIS’S CROSSHAIRS Precious metals prices have remained steady since the Morning Gold & Silver Market Report. The currency market is having a definite influence with Japan’s move to strengthen the yen. However, the biggest news continues to lay in Europe as last week’s summit’s goodwill has quickly evaporated thanks in large part to Italy... Read More
Morning Gold & Silver Market Report – 10/31/2011
JAPANESE INTERVENTION MEANS STRONGER DOLLAR, LOWER METALS In overnight trading, precious metals were down and stock futures are pointing towards a similar start for Wall Street. The U.S. dollar is stronger, thanks to the Japanese government intervening in the market in an attempt to curb the yen’s appreciation. A stronger yen hurts the export-... Read More
Closing Gold & Silver Market Report – 10/28/2011
GREECE DODGES A BULLET, BUT WILL THE U.S.? Precious metals have stayed steady in today’s trading. Gold is ending the week with its highest weekly gain in two months at approximately 6%. Credit Suisse said in a research note, “Beyond the very near-term we think economic fundamentals will be watched more closely again. In this context, we still thin... Read More
Mid-Day Gold & Silver Market Report – 10/28/2011
EU FEARS STILL PRESENT, DEBT FOCUS SHIFTS TO U.S. Precious metals prices have remained relatively steady since the Morning Gold & Silver Market Report. There seems to be an overall lack of optimism of the euro zone debt deal. In addition, the super committee tasked with solving the U.S. deficit problem seems to be unable to come to a resolution. According to The... Read More
Morning Gold & Silver Market Report – 10/28/2011
OPTIMISM OVER EUROPE REMAINS; INVESTORS STILL WANT SAFE HAVEN In overnight trading, precious metals were down along with stock futures. It seems that optimism over the EU debt deal remains, but not enough to continue the stock market’s rally. Joshua Raymond of City Index explained that appetite for risk is still well-sup... Read More
Closing Gold & Silver Market Report – 10/27/2011
STOCKS POST MASSIVE GAINS ON NEWS OF EURO ZONE DEAL Precious metals are up slightly since the mid-day commentary, pushed by a weaker dollar and euro. However, stocks were the real news makers today, with the S&P 500 gaining 3.43% as it pushes toward its biggest monthly rally in almost 4 decades. Read More
Mid-Day Gold & Silver Market Report – 10/27/2011
METALS UP ON WEAKER DOLLAR Since the morning commentary, stocks have continued to rally on the news of the euro zone debt deal. The euro has followed, and has also brought gold and silver along with it. Kathy Lien of GFT said, “Investors around the world are cheering the fact that the Europeans have sucked it up and done what was necessary ... Read More
Morning Gold & Silver Market Report – 10/27/2011
EURO DEAL BOOSTS STOCKS; U.S. DEBT DEADLINE STILL LOOMS Overnight trading was fairly volatile for gold and silver while platinum, palladium, and global stocks rallied on the news that leaders in the euro zone have agreed upon a plan to shore up Greece’s debt burden and to contain the debt crisis in the whole region. In the agreem... Read More
Closing Gold & Silver Market Report – 10/26/2011
CHINESE AID ALLEVIATES FEAR; EUROPE STILL NOT FIXED Gold made nice gains today, although it has backed off slightly since the Mid-Day Commentary. French President Nicolas Sarkozy will speak directly with the head of the Chinese government, Hu Jintao, to appeal to China for an investment in the European Financial Stability Facility... Read More
Mid-Day Gold & Silver Market Report – 10/26/2011
DEADLOCK ON EU DEBT CRISIS HEIGHTENS FEARS OF NON-RESOLUTION The concerns hitting the market since the Morning Gold & Silver Market Report continue to revolve around the deadlock involving the EU debt crisis inflicted by Greece and corporate earnings in the national markets. The safe-haven appeal of gold seems to have returned based on these economic fears. &quo... Read More
Morning Gold & Silver Market Report – 10/26/2011
SAFE-HAVEN STATUS ‘RE-EMERGING’ AS EURO UNCERTAINTY REMAINS In overnight trading, gold, silver, and platinum all rose slightly while stock futures gained sharply ahead of a summit of EU leaders taking place today. Investors seem to be expecting, or at least hoping, that a comprehensive plan will come... Read More
Closing Gold & Silver Market Report – 10/25/2011
NEWS FROM EUROPE HAS AWOKEN THE SLEEPING GIANT Precious metals continue to rise on the news of the European debt crisis meeting being canceled for this week. Both gold and silver have broken through to a one-month high, with gold finally passing the $1,700 mark investors have been watching for. Richard Ross, Chief Technical Strategist at Auerbach Grayson & Co., commented on the jump in prices, “ Read More
Mid-Day Gold & Silver Market Report – 10/25/2011
EU DEBT CRISIS WORSENS AS ITALY IS WARNED Precious metals prices have risen since the Morning Gold & Silver Market Report on safe haven appeal as consumer confidence dropped, causing a downturn in stock market pricing. The other big news affecting precious metals is the overall picture in the EU as talks were cancelled and Italy was warned to get its ‘economic h... Read More
Morning Gold & Silver Market Report – 10/25/2011
PRIVATE DEBT HOLDERS REPORTEDLY ASKED TO TAKE 60% HIT ON GREECE In overnight trading, gold and silver rose on worries over the euro zone. U.S. stock futures are flat, also likely due to the news coming out of Europe. One stock trader described activity as “very, very quiet,” and said it will probably remain so until U.S. eco... Read More
Closing Gold & Silver Market Report – 10/24/2011
HEDGE FUNDS PLACE BETS AGAINST RECESSION, SHADOW STILL LOOMS Gold and silver are up slightly in afternoon trading, with both metals up by more than 1%. Platinum and palladium are the big gainers today, with platinum up by more than 2% and palladium up by 3.5%. Hedge funds seems to be generally betting against another recessi... Read More
Mid-Day Gold & Silver Market Report – 10/24/2011
ROUBINI GIVES 50/50 FOR RECESSION Precious metals have stayed relatively steady since this morning. News coming out of Europe is quiet today, and it seems investors are in wait-and-see mode. Nouriel Roubini, Co-Founder and Chairman of Roubini Global Economics LLC., seems to think the worst is not over. “Unfortunately, in my view there is a risk, at least a 50 percent probability, that in the U.S., in the eurozone, in the United Kingdom, and in mos... Read More
Morning Gold & Silver Market Report – 10/24/2011
Precious Metals Prices Are Moving Up – Gold prices have risen over 1% in early morning trading, as European leaders continue to slog towards a bailout plan and there is news that the Chinese economy may look better than forecasted. Gold seems to be bouncing back and forth between a safe-haven play and a commodity. There seems to be less speculation in gold, as measured b... Read More
Closing Gold & Silver Market Report – 10/21/2011
It is Still All About Europe – The U.S. stock market soared along with precious metals prices on continued optimism going into this weekend’s European summit. Although there are some important differences between France and Germany that have not been worked out, the market is betting a plan will eventually fall into place. Read More
Mid-Day Gold & Silver Market Report – 10/21/2011
EURO ZONE TALKS INTENSIFY, MERKEL VS. SARKOZY The course of precious metals prices since the Morning Gold & Silver Market Report, has seen some volatility but prices are still up for the day. The Greek bailout is still dominating the global economic landscape, as Germany and France have taken strong stances on how to resolve Greek debt crisis. A popular sentimen... Read More
Morning Gold & Silver Market Report – 10/21/2011
EU SUMMIT IN FOCUS; WHY ONE ANALYST CAN’T TRUST NEWS OUT OF EUROPE In overnight trading, precious metals recovered from yesterday’s losses while stock futures are pushing upwards as well. All eyes are on the EU summit happening this Sunday and whether a resolution to the European debt crisis will come out of it. While the market seems to be pricing in such a resolution, Tobias Blattner of Daiwa Capital Markets believes that Read More
Closing Gold & Silver Market Report – 10/20/2011
GADDAFI CONFIRMED DEAD; GOLD ENDS LOWER FOR FOURTH STRAIGHT DAY Gold is closing lower for the fourth straight day, although it has risen since the mid-day commentary, amid uncertain optimism by traders and investors. The Dow Jones Industrial Average has closed opposite its direction the previous day for ten days in a row, indicating indecisive... Read More
Mid-Day Gold & Silver Market Report – 10/20/2011
INVESTORS COVER LOSSES ON EUROZONE’S INCONSISTENCIES Precious metals have fallen a little in morning trading. Conflicting news of this weekend’s meeting in Europe on the handling of Greece and other eurozone problems have confused investors, thus spurring the volatile market movements. James Moore, Research Analyst at FastMarkets.com,... Read More
Morning Gold & Silver Market Report – 10/20/2011
KEY VOTE IN GREECE TODAY; JOBLESS CLAIMS DOWN; GADDAFI REPORTED DEAD In overnight trading, precious metals were down on renewed optimism that a resolution will be found in the European debt crisis. A very important austerity vote takes place in Greece today as protesters attempt to bring the country to a standstill by leaving businesses, schools, and docks empty while hospitals run on bare-minimum ... Read More
Closing Gold & Silver Market Report – 10/19/2011
FEAR OF EURO ZONE CALAMITY DRIVES MARKETS IN LATE DAY TRADING Gold and silver have remained relatively unchanged since the mid-day report. However, stock markets, which were calm in early trading, have sold off somewhat this afternoon. Greece is expected to pass more austerity measures despite protests in the streets by the Greek populace... Read More
Mid-Day Gold & Silver Market Report – 10/19/2011
EURO ZONE DEBT TALKS STALL, GOLD DROPS Gold and precious metals prices have fluctuated on news that euro zone debt talks have stalled, as well as the U.S. government’s action to limit speculation in commodities markets. According to Richard Hastings, Macro Strategist at Global Hunter Securities, “Gold prices are still right on trend despite the big drop yesterday... Read More
Morning Gold & Silver Market Report – 10/19/2011
PHYSICAL METALS STILL DESIRED; OPTIMISM IN EUROPE, BUT WHY? Gold and U.S. stock futures are fairly flat this morning. In the U.S., inflation data was mainly in line with expectations in a report released this morning. Higher hopes of a resolution to the European debt crisis has investors more interested in ri... Read More
Closing Gold & Silver Market Report – 10/18/2011
Silver & Palladium Prices Go Positive, While Gold & Platinum Recover - The stock market boomed again today, on reports that Germany and France are moving closer to an agreement on how to fix the European debt crisis. This news also turned precious metal prices around with silver and palladium making positive gains. (... Read More
Mid-Day Gold & Silver Market Report – 10/18/2011
Precious Metals Prices Move Up -The prices of precious metals have rallied from the Morning Gold & Silver Market Report. The concerns involving Chinese economic slowdown, the Greek debt crisis and France being under a credit review for possible downgrade by Moody’s to its AAA rating should boost the safe-haven appeal of gold. The term safe-haven might h... Read More
Morning Gold & Silver Market Report – 10/18/2011
The Chinese Economy Grows at the Slowest Rate in Two Years –The Chinese economy grew at 9.1% in the third quarter from a year earlier, which is the slowest pace since 2009. This was down from the 9.5% of previous quarters and the expectations of 9.3%. The slowdown is a global concern on two fronts. If the Chinese economy ... Read More
Closing Gold & Silver Market Report – 10/17/2011
GOLD AS A FOURTH ASSET HELPS PROTECT AGAINST BLACK SWANS Precious metals have recovered slightly against mid-day numbers as the stock market selloff gathers steam but held back as the dollar grew stronger on news out of Europe. Many investors are still bullish on gold as a fourth asset class due to its inverse relationship with the stock market as wel... Read More
Mid-Day Gold & Silver Market Report – 10/17/2011
THESE ‘DREAMS’ KEEP ON…DRIVING CONFIDENCE DOWN Precious metals prices have started to drop since the Morning Gold & Silver Market Report, due in large part to not-so-flattering remarks out of the euro zone. The majority of precious metals prices is down on the news as confidence is dwindling and fear is coming back into the marketplace. "With renewed concer... Read More
Morning Gold & Silver Market Report – 10/17/2011
Precious Metals Prices Continue to Drift Upwards - No Quick Solution to the Euro Crisis in Sight - Precious metals prices are up since markets opened Sunday at 5PM (CT). Gold is at a 3-week high. U.S. equity markets were heading for a strong opening, but have since Read More
Closing Gold & Silver Market Report – 10/14/2011
The U.S. Rejects Plan to Participate in the European Bailout – Proposals floating about suggest the size of the International Monetary Fund should be doubled with the help of the broader international community, is not going to be supported by the U.S., Canada or Australia. This clearly puts the burden back on Europe. The message seems to be that first they should put their own house i... Read More
Mid-Day Gold & Silver Market Report – 10/14/2011
IMF PUT IN ITS PLACE, U.S. TO PLAY GREATER ROLE Precious metals prices have remained relatively steady since the Morning Gold & Silver Market Report. The continuing European Union (EU) debt crisis continues to be a source of concern for global markets. The G20 conference, which began today, has already seen its fair share of interesting propositions today. Accor... Read More
Morning Gold & Silver Market Report – 10/14/2011
FEARS RETURN TO CONTAGION IN EUROPE; INVESTORS “MORE BULLISH THAN EVER” ON GOLD In overnight trading, precious metals spent time making up for the moderate losses experienced yesterday. U.S. stock futures are pointing towards a high open today, and were pushed higher by the release of retail sales data that blew past expecta... Read More
Closing Gold & Silver Market Report – 10/13/11
GOLD CAUGHT BETWEEN SAFE HAVEN AND COMMODITY; FITCH IS AT IT AGAIN Precious metals have recovered slightly since the mid-day report, as stocks ended the day weaker after the earlier release of worse-than-expected economic data from China. Gold seems to be caught in an interesting situation, according to F... Read More
Mid-Day Gold & Silver Market Report – 10/13/2011
IMF BACKS CHINA, EU STRESS TEST HAS LOTS OF VICTIMS The downward movement of pricing for precious metals has continued since the Morning Gold & Silver Market Report. There were initial concerns over China’s import and export data and the European Union (EU)’s inability to convey a clear plan to tackle the continuing debt crisis. "The key here for gold is in... Read More
Morning Gold & Silver Market Report – 10/13/2011
CHINA DATA ADDS TO GLOBAL ECONOMIC WOES Precious metals have traded mostly lower since yesterday’s close, and stock futures are joining them in the red after the release of economic data from China that was weaker than expected. China’s trade surplus contracted in September, with lower-than-expected imports and exports. This is yet another sig... Read More
Closing Gold & Silver Market Report – 10/12/2011
FED MINUTES SHOWED SOME MEMBERS PUSHED FOR QE3 Silver and gold have slipped slightly since the Mid-Day Commentary, but both are up more than 1% for the day. The minutes from the most recent Federal Open Market Committee meeting were released today. They show that two... Read More
Mid-Day Gold & Silver Market Report – 10/12/2011
European Make-Or-Break It Summit on October 23 – Investors will keep a sharp eye out for any indications of what plans may be announced at this critical summit. Four euro zone leaders told Reuters today, that Greece’s private creditors, (largely banks, pension funds and financial institutions) are going to have to take more of a loss, than at first indicated. In July, Greek private investors were told to expect a “haircut... Read More
Morning Gold & Silver Market Report – 10/12/2011
Gold Goes Up on Renewed European Debt Crisis Concerns – Gold prices went up to a two-week high in New York overnight, as Slovakia remains the only country in the 17-nation euro area who voted against the plan for a rescue fund. Global equity markets went down on the news and then right back up on the announcement that there will be a ... Read More
Closing Gold & Silver Market Report - 10/11/2011
IRAN MURDER PLOT FOILED; RELATIVELY FLAT DAY IN THE MARKETS Gold and silver are trading at prices close to where they ended the day yesterday. Stocks were little-changed since yesterday as well, with the S&P 500 gaining a measly 0.05%. A plot allegedly by the Iranian government to kill the Saudi Ambassador to the United States has been foiled by the Drug Enforcement Administ... Read More
Mid-Day Gold & Silver Market Report - 10/11/2011
SLOVAKIA CONTINUES TO HINDER, GOLD HOLDS A BRIGHT OUTLOOK Precious metals have slipped a little, but for the most part have remained steady since the Morning Gold & Silver Market Report. The last main hurdle remaining to supporting the euro zone measure of aid to Greece lies in the hands of the Slovakian government. Read More
Morning Gold & Silver Market Report – 10/11/2011
ALL EYES ON SLOVAKIA; GARTMAN: GOLD NOT FOOLED BY EURO DEAL Overnight trading has seen gold pull back along with U.S. stock futures. The dollar is stronger versus the euro, thanks to a country that doesn’t often make front-page news. Slovakia is voting today to approve required measures which will allow a beefing-up of the European Finan... Read More
Closing Gold & Silver Market Report – 10/10/2011
CHINA DEMAND 50% HIGHER; UNCERTAINTY PROVIDES GOLD-FERTILE BACKDROP Precious metals are recovering today, up from mid-day prices. Unlike silver, platinum and palladium, gold is more negatively correlated to the stock markets which means with the S&P 500 Index having it’s biggest rally since August, historically gold woul... Read More
Mid-Day Gold & Silver Market Report – 10/10/2011
EURO ZONE SHOWS SIGNS OF HOPE, EGYPT…NOT SO MUCH Precious metals prices are continuing their upward momentum since the Morning Gold & Silver Market Report. The news of a potential European bailout progressing and the continuing turmoil in the Middle East seem to be a boon to the safe-haven appeal of precious metals. "While a detailed plan was lacking [in eu... Read More
Morning Gold & Silver Market Report – 10/10/2011
GERMANY, FRANCE PLEDGE TO SAVE BANKS; METALS, MARKETS, EURO UP, DOLLAR DOWN Precious metals are up sharply this morning, along with global stocks and U.S. stock futures, after a renewed pledge by France and Germany to do whatever it takes to support European banks. U.S. stocks are looking to regain ground lost late Friday after credit downgrades of Italy and Spain. Read More
Closing Gold & Silver Market Report – 10/7/2011
Europe Remains the Driving Force Behind the Markets Precious metals prices rose higher in afternoon trading, but still fell for the day. Both the U.S. stock and global precious metals markets rose on the mornings jobs announcement, but fell as the news became more fully digested. We did see an increase of 103,000 jobs, but 45,000 of these were Verizon workers coming off their strike. Government workers, (federal,city and state) were big losers and this is exp... Read More
Mid-Day Gold & Silver Market Report – 10/7/2011
CRACKS IN EURO ZONE, MARKET FEAR SLIPS THROUGH Market prices have begun to slip since the Morning Gold & Silver Market Report. European leadership shows fractures in bank aid and is looking squarely at credit rating cuts. The jobs data was better than expected, but certainly not good enough to reverse fears of recession and place us in a growth capacity. "To... Read More
Morning Gold & Silver Market Report – 10/7/2011
JOBS REPORT BETTER, NOT ENOUGH TO MAKE A DENT IN UNEMPLOYMENT In overnight trading, gold reached as high as $1,669, and is currently resting slightly lower than that after the release of the U.S. jobs report from September. The report showed that 103,000 jobs were added in September, about 44,000 more than expected.&... Read More
Closing Gold & Silver Market Report – 10/6/2011
GEITHNER WARNS OF EURO DEBT DAMAGE; OBAMA URGES SWIFT ACTION Since the Mid-Day Gold & Silver Market Report, prices on gold, silver, platinum, and palladium have all seen moderate gains, spurred on by the stocks and commodities rally that came in response to the European Central Bank’s (ECB) efforts to increase liquidity and soften... Read More
Mid-Day Gold & Silver Market Report – 10/6/2011
AS THE GREEK DEFAULT FEAR TURNS Precious metals prices have remained relatively steady since the Morning Gold & Silver Market Report. A contributing factor to that steadiness has to do with what is happening with the Greek debt crisis and an improvement in domestic stock prices. "The whole gold market... Read More
Morning Gold & Silver Market Report – 10/6/2011
OPTIMISM BOOSTS STOCKS; ECB TO ENACT BOND PURCHASE PROGRAM Overnight trading of gold was relatively steady, while U.S. stocks are looking at another positive day, and silver, platinum, and palladium are benefitting from that optimism. Investors are hoping that eurozone policymakers will be able to work together to help out banks in... Read More
Closing Gold & Silver Market Report – 10/5/2011
METALS SELLOFF ‘PROBABLY’ OVER; MORE PROTESTS IN GREECE Since the Mid-Day Gold & Silver Market Report, gold and silver are mostly unchanged, while platinum and palladium have added to gains. One portfolio manager said, “The selling of the past two, three days has probably run its course … Gold is probably set to rally.... Read More
Mid-Day Gold & Silver Market Report – 10/5/2011
MERKEL PROPOSES MORE BURDEN ON INVESTORS Prices have increased approximately 1% since the Morning Gold & Silver Market Report. The hot-button issue surrounds the never-ending European debt crisis. The potential Greek default has drained international markets and drained a lot of confidence in the markets. UBS, in a note to its investors, said, "Separating it... Read More
Morning Gold & Silver Market Report- 10/5/2011
Private Job Creation Beats Estimates but Announced Layoffs Soar – The September survey from ADP showed the private sector added 95,000 jobs, which was almost identical to the August report. It had been expected that 75,000 jobs would be created, so although this is a modest gain, it is a gain. This news from the private sector was offset from news out of the public sector. Governments and the military in particular are re... Read More
Closing Gold & Silver Market Report – 10/4/2011
STOCK & PRECIOUS METALS MARKETS SURGE IN MASSIVE LATE DAY RALLY Markets posted massive gains this afternoon as the S&P 500 climbed by 4.1% and gold rebounded by more than $20 off its low of around $1,600. Silver is closing above $30 after dipping below $29 this afternoon. The market continues to suffer from headlin... Read More
Mid-Day Gold & Silver Market Report – 10/4/2011
BERNANKE SPEAKS BEFORE CONGRESS, PRECIOUS METALS DROP Since the Morning Gold & Silver Market Report, Federal Reserve Chairman Ben Bernanke spoke to Congress, making a number of points. Recently, when Bernanke talks, markets and precious metals have moved one way or another, and true to form, that held up this morning. The main issue leading to the drop in prices ... Read More
Morning Gold & Silver Market Report – 10/4/2011
CHINA WARNS OF TRADE WAR; BERNANKE SPEAKS TODAY After a volatile night, gold is trading slightly lower, thanks to traders selling gold (their insurance policy) to cover short positions and margin calls. U.S. stock futures are also down. Greece is the main issue yet again, as eurozone leaders voted to delay a deci... Read More
Mid-Day Gold & Silver Commentary – 10/3/2011
Gold and silver prices are virtually unchanged since the Morning Commentary. Despite predictions that Greece will be able to implement the austerity measures required for the next tranche of aid, euro zone countries are... Read More
Morning Gold & Silver Commentary – 10/3/2011
Gold & Silver rising on the news that Greece will not meet its deficit targets – Greece warned over the weekend that it will not meet its upcoming deficit targets set in July. These targets were set as a condition of a massive bailout package in order to avoid bankruptcy. This announcement sent gold and silver prices climbing, while triggering a selloff in equities. Asian markets were off over 4%, Europ... Read More
Closing Gold & Silver Market Report – 9/30/2011
WORST QUARTER SINCE 2008 FOR U.S. STOCKS, WORST IN NINE YEARS FOR EUROPE Since the posting of the Mid-Day Gold & Silver Market Report, prices on gold, silver, and platinum have all dipped somewhat, with only palladium seeing an increase since 12:00 PM (CT). Still, gold ended the day higher than it had Thursday (rising by 0.3%) as buyers took advantage of the metal’s... Read More
Mid-Day Gold & Silver Market Report – 9/30/2011
STOCKS, ECONOMIES, LEGISLATION, OH MY… Gold prices are on the rise since the Morning Gold & Silver Market Report, while remaining precious metals prices have remained steady. This was primarily due to safe-haven appeal being reaffirmed by a number of investors due to Read More
Morning Gold & Silver Market Report – 9/30/2011
END OF BAD QUARTER DOESN’T BRING HOPE Gold traded higher in overnight trading, spiking as high as $1,643 at one point, but has since come off those highs. U.S. stock futures signaled a lower start to morning stock trading, and remained so after the consumer spending report was released. The report showed an expect... Read More
Closing Gold & Silver Market Report – 9/29/2011
VOLATILE DAY FOR ALL MARKETS Since the Mid-Day Commentary, gold slipped to close the day slightly down, but almost unchanged since yesterday. Silver has gained slightly, and is closing the day in positive territory. Platinum and palladium have continued their slide. All markets were extremely volatile today, showing a battle between optimistic bu... Read More
Closing Gold & Silver Market Report –10/3/2011
STOCKS TAKE A HIT; RISK OF RECESSION RISES Precious metals are down slightly from today’s highs as stocks tumble more than 2% with concerns over the possibility of failure with the Greek default. Even Morgan Stanley an... Read More
Morning Gold & Silver Market Report – 9/29/2011
JOBLESS CLAIMS DROP; GERMAN VOTE ENCOURAGING FOR EURO Overnight trading was choppy for gold and silver, but the metals have remained mostly flat this morning. U.S. stock futures are pointing to a positive open for Wall Street, after Germany’s parliament approved an enhancement of the European Financial Stability Facility (EFSF). Also pushing stock futures up is news that Read More
Closing Gold & Silver Market Report – 9/28/2011
GERMANY PREPARES TO KICK THE CAN ONE MORE TIME Precious metals prices have dropped significantly over the last few hours, mirroring the selloff in the stock market. Germany’s parliament is set to vote tomorrow to expand the European Financial Stability Facility (or EFSF), the official name of the bailout fund designed to prevent eurozone nations from defaulting on their debt. Read More
Mid-Day Gold & Silver Market Report – 9/28/2011
RENEGOTIATION = MORE WORRY Since the Morning Gold & Silver Market Report, precious metals pricing has dropped on increased fears of eurozone stability. There are reported European tax implications, as well as concerns amid European Union (EU) inspectors and IMF inspectors re-examining the austerity measures implemented by the Greek government. EU and IMF... Read More
Morning Gold & Silver Market Report – 9/28/2011
U.S. Durable-Goods Orders Drop in August – The August durable goods report just came out and the number of orders dipped by 0.1%, when it had been expected to rise by 0.4%. Orders placed for motor vehicles dropped by 8.5%. Platinum and palladium are highly used in the automobile industry, so this slowdown in motor vehicle bookings might have been a contributing factor to recent price declines in those metals. Stock futures relinquished s... Read More
Closing Gold & Silver Market Report – 9/27/2011
GOLD MAKES 12% RECOVERY Precious metals have relaxed a little since mid-day trading, however they have not strayed far. Gold has recovered 12% since yesterday’s numbers as the other precious metals are also sharing in a nice recovery. Investors seem to be taking advantage of the dip in prices. George Gero, Senior Vice President at RBC Capital markets, says, “We may see the new trading range develop at the higher level, $1,625-$1,700…gold’s rally is a major relief t... 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.
