Precious Metals Market Reports
Morning Gold & Silver Market Report – 8/19/2011
Gold Continues to Soar as Recession Fears Escalate - Gold, silver and platinum prices are all sharply higher in overnight trading. Gold prices and December gold futures all hit record highs. Overseas equity markets were battered again overnight and U.S. stock futures are poised for a negative opening. Yesterday was a day of more disappointing economic data in the U.S., so ... Read More
Closing Gold & Silver Market Report – 8/18/2011
VOLATILE MARKETS FALL AGAIN WHILE GOLD CONTINUES TO SHINE Gold has increased gains since the mid-day, and is edging closer to a 2% gain on the day. Stocks and almost every commodity besides precious metals closed sharply lower today. Inflation indexes ticked higher last month, according to data released by the Fed. The Consumer ... Read More
Mid-Day Gold & Silver Market Report – 8/18/2011
PHILLY FED INDEX DOES NOT LOOK GOOD FOR ECONOMY Gold has added to gains this morning while silver has fluctuated slightly, but is overall flat since the morning. The stock market, however, is sharply down (as much as 528 points) since the Philly Fed factory index was released this morning. Investors are flocking to safe haven investments such as gold as the volatility of the stock market is at all-time highs. Read More
Morning Gold & Silver Market Report – 8/18/2011
Stocks Plunge Overnight - Gold is Surging -World equity markets are plunging overnight and the European banks are the cause for concern. Major Banks across the euro zone are sharply lower, as the news broke that the European Central Bank lent $500 million Euros to a euro zone bank, that had not requested a loan since last February. Although no details were offered, the market reads this as another sign of escalating diffi... Read More
Closing Gold & Silver Market Report – 8/17/2011
GOLD BREAKS ANOTHER RECORD; MORGAN STANLEY ASIA WARNS CHINA MAY STOP BUYING U.S. TREASURIES Gold ended the day by hitting another record, finishing at $1793.80 per ounce, a gain of $8.80. This, after trading as high $1,797 earlier in the day, driven by investor apprehension over the debt crisis in Europe and an overall lack of confidence in the economy worldwide. Silver also ended... Read More
Mid-Day Gold & Silver Market Report – 8/17/2011
SAFE HAVEN BUYING KEEPS GOLD STRONG; SILVER “CATCHING UP” Gold has continued to trade steady today with small gains from early morning prices as consumers look to venture back into stocks and take profits in gold as it nears $1,800. Silver makes gains this afternoon “catching up to gold,” says George Gero, senior vice president at RBC Capital Ma... Read More
Morning Gold & Silver Market Report – 8/17/2011
EURO ZONE PLAN BRINGS NO RELIEF TO EQUITY MARKETS Overseas trading was mixed last night, while U.S. Stock futures are poised to open higher. Gold prices have continued to climb since yesterday’s gains. Silver, which has not experienced the same recent gains as gold, has also trended up the past several days and is once again above $40/oz. The highly anticipated meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel yesterday Read More
Closing Gold & Silver Market Report – 8/16/2011
STOCKS SNAP WINNING STREAK, INVESTORS GET GOLD FEVER – Gold is up since the mid-day commentary, and stock closed for a loss of around 1%. The market seems jittery after hearing the announcement by leaders Sarkozy and Merkel regarding plans to deal with the EU debt crisis. Many traders were hoping for a “Eurobond” program, a system where the European Central Bank, instead of individual countries, would sell bonds to borrow money, and those bonds would be guaranteed by every co... Read More
Mid-Day Gold & Silver Market Report – 8/16/2011
INDUSTRIAL PRODUCTION UP, SOOTHING FEARS OF RECESSION … FOR NOW Since the stock market opened this morning, stocks have declined amid the news of Germany’s sluggish Gross Domestic Product growth. Gold and silver have risen since the morning, adding to gains as investors look for a safe haven away from the volatile market. Read More
Morning Gold & Silver Market Report – 8/16/2011
WEAK ECONOMIC DATA OUT OF GERMANY SENDS GOLD PRICES SOARING In overnight trading activity, gold and silver prices have risen sharply on reports of slow Gross Domestic Product (GDP) growth out of Germany. Slower than expected growth out of Germany is viewed as another indicator of a slowing global economy. Investor appetite for risk has abated, as equity markets are down worldwide and U.S. stock market futures are off by triple digits. Read More
Closing Gold & Silver Market Report – 8/15/2011
US STOCKS RALLY TODAY; GERMAN CHANCELLOR RESISTS SO-CALLED “EUROBONDS” Since the Mid-Day Gold & Silver Market Report posted by APMEX at 1:15 PM, the spot price of gold has risen from $1,769.00 to $1,770.50 (up $25.90 overall for the day) and the spot price of silver has risen from $39.69 to $40.04 (up $0.82 for the day). Reversing the massive drop seen la... Read More
Mid-Day Gold & Silver Market Report – 8/15/2011
ECB BUYS BONDS The European Central Bank announced that last week it began buying Italian and Spanish securities. According to Christoph Rieger, head of fixed-income strategy at Commerzbank AG in Frankfurt, “The market optimists will interpret this number as good news as it underscores the ECB’s resolve…Equally, the pessimists will point out that... Read More
Morning Gold & Silver Market Report – 8/15/2011
40th Anniversary of Coming off the Gold Standard! Forty years ago today, President Richard Nixon signed into a law a bill that would take the United States off the gold standard and signal to the rest of the world the end of the Bretton Woods agreement. The Bretton Woods agreement had fixed the price of the U.S. dollar to gold and the pri... Read More
Closing Gold & Silver Market Report – 8/12/2011
Wild Week of Ups & Downs Ends on a High Note This was one of the most volatile weeks for the stock market in recent memory, but with today’s 125 point gain, stocks are only down 1% for the week. Gold prices were down sharply for most of the day, but have rallied back up towards even as we come to the close.... Read More
Mid-Day Gold & Silver Market Report – 8/12/2011
CONSUMER SENTIMENT WORSE THAN EXPECTED A 30 year old low has been reached as the preliminary index of consumer sentiment slumped to 54.9. The projected number was 62 as of this morning but the official report has a much wider margin. The weak employment data and volatility in the markets lead a lot of economists to be... Read More
Morning Gold & Silver Market Report – 8/12/2011
GOOD NEWS IN U.S., EUROPE NOT TEMPERING DEMAND FOR SAFE HAVEN Retail sales for July increased by 0.5%, allowing stock futures to add to gains this morning. Another closely-watched report to be released this morning is the University of Michigan’s August index of consumer sentiment. Expectations are that sentiment will have fallen to 62.0 from 63... Read More
Closing Gold & Silver Market Report – 8/11/2011
TRADERS OPTIMISTIC AS JOBS DATA PROVIDES A GLIMMER OF HOPE – In another rollercoaster day, stocks have closed significantly higher while gold and silver are down slightly. The jobless data, released this morning, helped to ease some fears that the U.S. was headed over the cliff of a double-dip recession. The report showed initial unemployment claims to state agencies wer... Read More
Mid-Day Gold & Silver Market Report – 8/11/2011
STOCKS ARE UP – GOLD TAKES A STEP BACK Gold and silver are trading down today while the stock market is staging a small recovery. Treasury prices are falling, with yields rising from near-record lows while traders look to stocks for riskier assets after the rally. Read More
Morning Gold & Silver Market Report – 8/11/2011
JOBLESS CLAIMS DIP BUT U.S. TRADE DEFICIT WIDENS New U.S. claims for unemployment benefits dropped by 7,000, thus reaching a four month low. This was a better than expected result as expectations were for a slight upswing in benefits claims. The current seasonally adjusted total is 395,000. The four-week moving average for claims, which is considered to be the most important measure, dropped 3,250 to 405,00... Read More
Closing Gold & Silver Market Report – 8/10/2011
U.S. STOCKS FALL AMID EUROPEAN DEBT WORRIES; GOLD PRICES CONTINUE TO BREAK RECORDS Stocks in the U.S. fell to their lowest level in nearly a year as a result of general concerns about the overall global economy and specific concerns that the European sovereign-debt crisis won’t be adequately contained. The Dow closed with a 4.6% (520-point) drop, and the ... Read More
Mid-Day Gold & Silver Market Report – 8/10/2011
MARKETS’ OUTLOOK WORSENS The stock market has taken a downward turn, erasing the gains of yesterday, largely due to the relatively negative information coming out regarding France’s Societe General. Societe General is viewed as the largest bank in France and has seen a 21% decline. Bank of America and other large financial institutions are feeling the stock market pinch. ... Read More
Morning Gold & Silver Market Report – 8/10/2011
DOES YESTERDAY’S FED STATEMENT MAKE QE3 MORE LIKELY? According to Goldman Sachs, the answer would be yes. In a statement yesterday, chief economist at Goldman, Jan Hatzius said, "we now see a greater-than-even chance that the FOMC will resume quantitative easing later this year or in early 2012. We have changed our call beca... Read More
Closing Gold & Silver Market Report – 8/9/2011
STOCKS RECOVER FROM YESTERDAY’S SELLOFF BUT BERNANAKE SAYS ECONOMY IS AT RISK – Stocks rose sharply today, recovering much of yesterday’s losses. Gold held steady, still viewed by many as a safe haven asset in times of volatility. The big news of the day was the release of the report from the Federal Open Markets Committee, a decision-making pan... Read More
Mid-Day Gold & Silver Market Report – 8/9/2011
FED MAY HAVE A LOT TO SAY TODAY The stock market is rebounding on the hope the Federal Reserve will come out with measures to help buoy the current economic condition facing the United States. The meeting is set for later this afternoon (2:15 pm ET) and speculation is mounting that Chairman Ben Bernanke may announce steps to ramp up g... Read More
Morning Gold & Silver Market Report – 8/9/2011
FOMC MEETING TO BRING NEWS OF QE3? U.S. stock futures are pointing to big gains this morning, a day after the 6th-worst drop in the Dow in history. All eyes are once again on the Fed Open Markets Committee meeting today, as investors await news of another round of quantitative easing. The FOMC meeting was originally not... Read More
Closing Gold & Silver Market Report – 8/8/11
DOW GIVES UP 634 POINTS – GOLD PRICES SOAR The U.S. stock market plunged today, fueling speculation that the Fed is going to be pressured to take action. This was the worst day since the credit crisis began last Monday and sent the Dow below 11,000. Few expect that the Fed would engage in another round of bond buying, (although it is an option), but they could choose to re-invest proceeds from maturing bonds into ... Read More
Mid–Day Gold & Silver Market Report – 8/8/2011
GOLD CLEARS $1700 AS EQUITY MARKETS SINK Gold prices are surging nearly 3%, as the U.S. Stock market heads the opposite direction. Gold prices continue to climb on the debt fears not only facing the U.S., but in the euro zone as well. The European Central Bank’s (ECB) move to purchase Italian and Spanish bonds has not calmed the markets. “Investors are looking upon the ECB bond-buying as the first steps towards th... Read More
Morning Gold & Silver Market Report – 8/8/2011
FRIDAY NIGHT’S NEWS ROCKS GLOBAL MARKETS After nearly 4 months on CreditWatch Negative, the sovereign credit rating of the U.S. was downgraded by Standard and Poor’s (S&P) late Friday night. Citing political bickering and an insufficient plan to stabilize the economy, the U.S. credit rating was changed to ‘AA+’ from the top-notch ‘AAA’ for the first time in history. S&P was the only one of the three major c... Read More
Closing Gold & Silver Market Report – 8/5/2011
DOLLAR FALLS AGAINST THE EURO; WALL STREET ENDS WORST WEEK SINCE 2008 Media reports out today that the European Central Bank (ECB) plans start purchasing Italian bonds caused the dollar to fall against the euro in trading this afternoon. Other currencies including the franc (Switzerland) and the yen (Japan) also outperformed the dollar as fears about the state of t... Read More
Mid-Day Gold & Silver Market Report – 8/5/2011
POLITICIANS TAKING HEAT FOR DOWNTURNED GLOBAL ECONOMY The root cause of global market conditions is seen by a number of economists as a direct failure of politicians, globally, to tackle their excessive sovereign debt problems. George Magnus, Senior Economic Adviser at UBS in London, said, "People have just become spooked by a crass failure of political leadership…Th... Read More
Morning Gold & Silver Market Report – 8/5/2011
PAYROLLS DATA EASES FEARS, BRINGS SUPPORT TO STOCK MARKET The highly anticipated payrolls report was released this morning, and it showed an increase of 117,000 jobs in July. The unemployment rate fell .1% to 9.1%. These numbers were better than expected, finally Read More
Closing Gold & Silver Market Report – 8/4/2011
STOCKS PLUMMET IN MASSIVE MARKET CORRECTION; RECESSION FEARS GROW In what is being called a “full-fledged correction,” stocks plummeted today as a stock market selloff the likes of which hasn’t been seen since the recession in 2009 took place. Investor fears about both the possibility of an imminent recession and the ongoing debt crisis in Europe resulted in a 4.31% drop in the Dow, a 4.... Read More
Mid-Day Gold & Silver Market Report – 8/4/2011
MARGINAL IMPROVEMENT IN JOBS DATA FUELS RECESSION TALK The main concern of economists regarding the jobless claims data is the proximity to the 400,000 range. There does not appear to be any good economic news that would lead them to think there would be a major drop in benefits claims. The downward trend is a step in the right direction, just not... Read More
Morning Gold & Silver Market Report – 8/4/2011
IS WALL STREET SIGNALING A NEW RECESSION? Stock futures are down this morning, and have remained so after the jobless claims report was released. The report showed a drop in new claims, albeit a small drop, and the four-week moving average fell to its lowest level since April. Gold and silver are both holding on to gains, gold near a record hi... Read More
Closing Gold & Silver Market Report – 8/3/2011
U.S. CREDIT RATING DOWNGRADES STILL POSSIBLE; GOLD CONTINUES RECORD TRADING Yesterday’s successful passage in Washington of a measure to increase the federal debt limit hasn’t eliminated fears that the U.S. could see a downgrade of its coveted AAA credit rating. Although Moody's Investors Service has said that they Read More
Mid-Day Gold & Silver Market Report – 8/3/2011
SURE A DEBT DEAL IS DONE, BUT… The service sector data, released earlier today put the fear of global recession on the table. World stock markets are taking tremendous hits. The disappointing data is not only U.S.-based, as it also includes Asia and Europe. According to Tom Porcelli, a U.S. Economist at RBC Capital Markets in New York, "Like (with) m... Read More
Morning Gold & Silver Market Report – 8/3/2011
TWO RATINGS AGENCIES KEEP U.S. AT AAA RATING WITH WARNINGS Credit ratings agencies Moody’s and Fitch have said that the U.S. sovereign debt rating will remain unchanged, but both companies said that a downgrade could still come in the future. Moody’s placed the U.S. rating on a negative outlook, and gave warnings as to what would cause a downgrade. One of the potential reasons for downgrade ... Read More
Closing Gold & Silver Market Report – 08/02/2011
DEBT LIMIT AGREEMENT PASSES; STOCKS FALL WHILE GOLD RISES After a prolonged fight between Republicans and Democrats, the long-sought measure needed to increase the federal debt limit was signed by President Obama today, after successfully passing in both the House and the Senate. The measure increases the U.S. debt limit until 2013, requires $2.4 trill... Read More
Mid-Day Gold & Silver Market Report – 8/2/2011
DEBT DEAL HAS THE VOTES BUT CAN IT CURTAIL DOWNGRADE TALK? The clearest hurdle to the passage of the debt ceiling measures in Congress boiled down to whether or not certain plans would have enough votes to pass through the House and Senate. The House voted 269-161 yesterday to send it to the Senate, which in the last ho... Read More
Morning Gold & Silver Market Report – 8/2/2011
ECONOMY FEARS OUTWEIGH ‘GOOD’ NEWS OF DEBT DEAL While the dominant story for many weeks has been the U.S. debt ceiling and whether Washington would avoid a sovereign default, now that a deal is seemingly imminent, most investors aren’t paying any attention. House leaders approved a debt ceiling deal yesterday and a vote is expect... Read More
Closing Gold & Silver Market Report – 8/1/2011
DESPITE DEBT AGREEMENT, UNCERTAINTY RULES MARKET; GOLD IN A BULL MARKET? Conventional wisdom was that, with all signs pointing to an agreement between Democrats and Republicans on raising the federal debt limit, the market would see a boost as business and investor confidence increased. However, today’s reality was that after a brief rally this morning, stocks ended low in the face of uncertainty over whether the terms of the debt deal... Read More
Mid-Day Gold & Silver Market Report – 8/1/2011
DEFAULT FEARS WANE, DOWNGRADE FEARS INTENSIFY A Congressional vote is expected to take place later this afternoon over raising the debt ceiling and is expected to pass with strong bipartisan support. Most markets, global and national, are showing signs of relief by dodging the default concerns from the debt ceiling deadline of August 2.The default concern may be alleviated to ... Read More
Morning Gold & Silver Market Report – 8/1/2011
CONGRESS TO VOTE ON DEBT CEILING DEAL President Barack Obama and congressional leaders came to an agreement on a deal to raise the U.S. debt ceiling over the weekend. The deal still has to pass the House of Representatives and the Senate to take effect, and a vote is expected later today. For now, attention is focused... Read More
Closing Gold & Silver Market Report – 7/29/2011
VOTE ON GOP DEBT PLAN SET FOR 6:00PM TODAY; GOLD FUTURES REACH RECORD HIGH Republican lawmakers have announced that a Congressional vote on House Speaker Boehner’s debt limit plan will take place this evening at 6:00pm ET, with House Majority Leader Eric Cantor saying that the GOP has enough votes to pass it. However, leaders in the Democratic-control... Read More
Mid-Day Gold & Silver Market Report – 7/29/2011
CAN U.S. CONGRESS COMPROMISE? WORLD AWAITS Bipartisan efforts are increasing today, with a vote on John Boehner’s revised plan expected to take place later today. There was concern there would not be enough votes to pass the previous edition yesterday afternoon. John Boehner’s plan is up for consideration, as is a proposal from Harry R... Read More
Morning Gold & Silver Market Report – 7/29/2011
MAJOR DEBT CEILING VOTE CANCELLED, MEETING DEADLINE AN UNCERTAINTY A vote on House Speaker John Boehner’s deficit-reducing debt ceiling deal was cancelled yesterday, after Boehner failed to garner enough support from his fellow Republicans. In any case, the Senate was prepared to vote down the bill, however from there the... Read More
Closing Gold & Silver Market Report – 7/28/2011
EXECUTIVES PRESSURE WASHINGTON ON DEBT DEAL; MOODY’S WARNS OF DOWNGRADE CONSEQUENCES Pressure to come up with an agreement on raising the federal debt limit is being put on Washington lawmakers by the top executives from some of the country’s most prominent financial institutions. In a letter released today, executives from Goldman Sachs, JPMorgan Chase, and Bank of America cautioned tha... Read More
Mid-Day Gold & Silver Market Report – 7/28/2011
DEBT VOTE HAPPENING TODAY Speaker of the House John Boehner’s revised plan for deficit-cutting has been submitted for approval. The vote is set to occur sometime between 5:45 & 6:15 p.m. EDT. If the bill passes the House, the feeling is there could be some type of bipartisan agreement on a resolution. The issue facing the plan is not every one is on board w... Read More
Morning Gold & Silver Market Report – 7/28/2011
DEBT CEILING VOTES TODAY; JOBLESS CLAIMS DROP House Speaker John Boehner’s reworked debt-ceiling deal is expected to pass when representatives vote later today. It is, however, expected to find resistance in the Senate, as Democrats have spoken out against it. Senate Majority Leader Harry Reid is gathering support for his ... Read More
Closing Gold & Silver Market Report – 7/27/2011
STOCKS FALL AS DEBT LIMIT DISAGREEMENTS CONTINUE; TREASURY STRESSES AUGUST 2ND DEADLINE As an agreement on raising the debt ceiling continued to elude lawmakers, stocks in the U.S. fell, with the Dow Jones Industrial Average dropping by 198.75 points and the Standard & Poor’s 500 Index sinking by 2%, the largest drop in two months. Meanwh... Read More
Mid-Day Gold & Silver Market Report – 7/27/2011
HURDLES FOR DEFICIT-REDUCTION PLANS; FED WON’T STEP IN Hurdles are popping up all over the place in Washington as both Democrats and Republicans are working on proposals to cut the national deficit. House Speaker John Boehner saw his proposal delayed due to strong opposition from both parties, while Senate Majority Leader Harry Reid’s plan is being rework... Read More
Morning Gold & Silver Market Report – 7/27/2011
GOLD RISES AS DEBT CEILING STUMBLES Gold prices surged to another new high overnight, as investors seeking to protect their wealth against the possibility of a U.S. debt default sought the safe haven of gold. Silver prices have continued to rise as well and are now at their highest prices since May. Although the consensu... Read More
Closing Gold & Silver Market Report – 7/26/2011
GOLD RISES FOR THIRD STRAIGHT DAY AS STALEMATE CONTINUES In the continuing trend of reporters having nothing to report, the debt stalemate in Washington has continued for another day. With the possibility of default less than one week away, tensions are running high as the world watches and waits for something – anything - to happen. Gold prices have rises throughout the stalemate, and have hit new highs in the last few days. Read More
Mid-Day Gold & Silver Market Report – 7/26/2011
COMPROMISE, TOO MUCH TO ASK? Competing plans for the U.S. debt crisis have both Republicans and Democrats focused on finding support votes for those plans. Leaders in the Senate and the House differ on whether to use a plan that proposes a short-term solution that would see another debt limit battle next year, or whether... Read More
Morning Gold & Silver Market Report – 7/26/2011
OBAMA, GOP STILL FAR OFF ON DEBT CEILING DEAL Last night’s televised speech by President Obama clearly showed that the two sides are still no closer to an agreement that would allow the U.S. to raise the debt ceiling in order to avoid what most analysts describe as a devastating default. "For the first time in history, our country's triple-A credit rating ... Read More
Closing Gold & Silver Market Report – 7/25/2011
IN THIS STATE OF CONFUSION, TODAY’S GOLD PRICES CONTINUE TO RISE Precious metals are continuing to rise today while the debt ceiling debates still swirl about with no resolution in sight. In a report from GoldCore, “An eleventh-hour solution is expected before next Tuesday’s August 2 deadline, when the U.S. Treasury has said that it would not be able to borrow any more funds. At the same time, Read More
Mid-Day Gold & Silver Market Report – 7/25/2011
WORLD WATCHING DEBT CEILING TALKS Worldwide financial leaders remain hopeful and secure that U.S. lawmakers will come through on their debt impasse compromise. The majority of countries believe the U.S. will come to an agreement, but view the combination of a raise to the debt ceiling and a ‘wait and see approach’ to balancing the budget to accommodate tha... Read More
Morning Gold & Silver Market Report – 7/25/2011
GOLD, U.S. DOLLAR HIT NEW RECORDS ON DIFFERENT ENDS Gold spot price set an all-time record overnight, reaching $1,624.07 before settling back somewhat in morning trading. U.S. lawmakers had signaled that an agreement on the debt ceiling deal would be forthcoming before the opening of the Asian marke... Read More
Closing Gold & Silver Market Report – 7/22/2011
CUT, CAP AND BALANCE BILL REJECTED As expected, the “Cut, Cap and Balance” bill passed by the U.S. House of Representatives failed to make it through Senate today. The bill, which would have allowed the debt limit to be raised only with corresponding spending cuts and an amendment to the Constitution requiring a balanced budget, was defeated by a vote of 51-46.... Read More
Mid-Day Gold & Silver Market Report – 7/22/2011
AMERICANS BACK COMPROMISE; GREEK DEFAULT? The debt ceiling talks continue to be a source of concern for the American public. President Obama is looking for a large cut in the deficit (trillions of dollars) while lifting the debt ceiling. The sticking point is the belief that in order to accommodate these parameters, taxes would need to be raised. The in... Read More
Morning Gold & Silver Market Report – 7/22/2011
DETAILS OF GREEK BAILOUT AND OBAMA’S DEBT-SHRINKING PLAN Details of the European Union’s bailout of Greece have emerged, and the package is being seen as stronger than expected. Fitch Ratings said it will declare Greece to be in "restricted default,” however this was an expected consequence, according to EU leaders. The deal is expected t... Read More
Closing Gold & Silver Market Report – 7/21/2011
EU REACHES BAILOUT AGREEMENT; US DOES NOT Gold traded lower today on news that European leaders have finally agreed on a plan to contain the sovereign-debt crisis. However, Matt Zeman of Kingsview Financial in Chicago, comments, “The EU lacks credibility in a lot of investors’ minds…whether or not this debt deal gets done, the fact of the matter rema... Read More
Mid-Day Gold & Silver Market Report – 7/21/2011
CREDIT RATINGS LOOKING BLEAK Standard & Poor’s reiterated its position today that if the U.S. government misses its scheduled debt payments it could cut the U.S. credit rating as early as August. There is some tie-in to both raising the debt ceiling and balancing the budget that S&P needs to see to avoid that type of action. The trickle-down ef... Read More
Morning Gold & Silver Market Report – 7/21/2011
GREEK BAILOUT INCLUDES DEFAULT? The meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy brought about a “common position” regarding a second bailout for Greece. European Union leaders meet today to discuss the matter further. The euro has bounced all over the place since the news came ou... Read More
Closing Gold & Silver Market Report – 7/20/2011
Despite gold trading lower this morning, it has rallied to stay above the $1,600 mark. Precious metals took a little dip today on news of President Obama pushing for a quicker deal on the debt ceiling. However, with the seriousness of the situation combined with a struggling economy and rumors of QE3, people stayed close to the safe-haven inve... Read More
Mid-Day Gold & Silver Market Report – 7/20/2011
MORE PLANS, MORE PROBLEMS, GOLD RISING Congressional leaders are doing their best to come up with a strong enough compromise that will accommodate the need to increase the debt ceiling, while also balancing the budget. The main component is trying to accommodate two different plans in one fell swoop among a bipartisan C... Read More
Morning Gold & Silver Market Report – 7/20/2011
OPTIMISM ABOUNDS OVER DEBT CEILING, EUROZONE TALKS U.S. stock futures are trading higher and gold is down this morning thanks to renewed optimism regarding debt ceiling negotiations. On an unrelated note, the “cut, cap, and balance” plan was passed by the House yesterday, but President Obama has already said he would veto thi... Read More
Closing Gold & Silver Market Report – 7/19/2011
GANG OF SIX AGREES TO CUT DEFICIT Gold dropped below $1,600 this afternoon as investors were more willing to take on risk in their investments. The commodity rallied in Asian trades, extending its recent upturn but flipped back later on. The euro gained with the help of some upbeat comments from European Central Bank President Jean Claude Trichet about the... Read More
Mid-Day Gold & Silver Market Report – 7/19/2011
GOLD STAYS ABOVE $1,600 AS U.S. STOCKS RISE Stocks in the U.S. have risen today based on both positive earnings results from a number of companies and an unexpected six month high in housing-market data. However, the market news wasn’t entirely sunny as Read More
Morning Gold & Silver Market Report – 7/19/2011
GOLD FLAT AS DEBT CEILING, EUROZONE ISSUES REMAIN The doors to compromise finally seem to be opening in debt ceiling negotiations. More details have arisen about behind-the-scenes deals that are in the works. The game of politics is still very much in play, but at least one deal is looking to give President Obama the power to raise the debt ceiling himself if the two sides cannot come to an a... Read More
Closing Gold & Silver Market Report – 7/18/2011
DEBT CEILING CLOCK TICKING, BACK UP PLANS EMERGE President Obama has threatened to veto a most recent proposal involving the U.S. debt limit ceiling as long as it includes balancing of budget is a requirement. With the August 2 deadline looming Congressional leaders are going to “…Stay in session every day, including Saturdays and Sund... Read More
Mid-Day Gold & Silver Market Report – 7/18/2011
GOLD RISES WHILE STOCKS DROP AMID CONTINUING DEBT FEARS U.S. stocks have seen a sharp drop in morning trading, primarily caused by the ongoing fears investors have over the failure by U.S. policymakers to raise the debt limit, as well as the uncertainty that still surrounds the debt crisis in Europe. Those same fears helped gold futures to Read More
Morning Gold & Silver Market Report – 7/18/2011
GOLD BREACHES $1,600 AS OPTIMISM IN U.S. AND GREECE SUBSIDES Gold breached the $1,600/oz. barrier earlier this morning amid fears of debt contagion in the eurozone and unsatisfying U.S. debt ceiling talks. Silver rose above $40/oz. for the first time since the large run in late April. An analyst at Forex.com explained, “Recently,... Read More
Closing Gold & Silver Market Report – 7/15/2011
ANOTHER ONE BITES THE DUST Precious metals are still going strong, with gold tallying a nine-session gain of almost $108, and a 3.2% gain for the week and silver knocks at the door of $40 an ounce. Some experts are saying that the technical charts for gold based on past rallies see gold reaching $1,750 and ounce. CitiFX’s chief technical... Read More
Mid-Day Gold & Silver Market Report – 7/15/2011
EURO BANKS FAIL STRESS TEST Fears abound that the Greek debt crisis is spreading to bigger countries such as Spain and Italy. As a repercussion, investors have been panicking and causing European bank shares to fall to a two-year-low. Eight European banks failed stress tests, while as many as 15 are needing more capital to withstand a prolonged recession. Wit... Read More
Morning Gold & Silver Market Report – 7/15/2011
MANUFACTURING DECLINES; S&P JOINS MOODY’S IN POTENTIAL DOWNGRADE The “Empire State” manufacturing gauge unexpectedly declined for a second month in a row, while the Labor Department reports that the core Consumer Price Index rose 0.3 per cent after a similar gain in May. This was above economists’ forecast of 0.2 per cent. Read More
Closing Gold & Silver Market Report – 7/14/2011
ANOTHER DAY CLOSER TO THE DEADLINE, NO PROGRESS TO REPORT – How many times can new agencies report that there’s no news to report on budget talks? The most recent talks ended tensely, with both sides deeply entrenched in their ideologies. President Obama told Republican lawmakers today “Don’t call my bluff,” alluding to his threats to veto any short term, stopgap bargain. A group of ... Read More
Mid-Day Gold & Silver Market Report – 7/14/2011
MOODY’S PUTS THE PRESSURE ON DEBT LIMIT TALKS The decision by Moody’s Investors Services to review the United State’s Aaa credit rating for a possible downgrade is adding even more pressure to the already-tense debt limit discussions between President Obama and Republican leaders. Interests both in this country and overseas (most nota... Read More
Morning Gold & Silver Market Report – 7/14/2011
GOLD IN UNCHARTED TERRITORY YET AGAIN Gold is hovering above yesterday’s record-high close thanks to the fallout of Moody’s placing the U.S. bond rating on review. Silver is also enjoying moderate gains of approximately 3%. Yesterday’s Aden Report explained, “With one crisis following another, it’s not surprising that gold didn’t stay down long. ... Read More
Closing Gold & Silver Market Report – 7/13/2011
MOODY’S PLACES U.S. BOND RATING ON REVIEW – Citing the “rising possibility” that political leaders in the U.S. won’t come to an agreement on raising the debt limit, Moody’s Investors Service has placed the AAA bond rating currently held by the U.S. on review for a possible downgrade. At the same time, discussions between GOP leaders and President Obama on rai... Read More
Mid-Day Gold & Silver Market Report – 7/13/2011
BERNANKE IMPLIES QE3 LIKELY Fed Chairman, Ben Bernanke, had a congressional hearing today and spoke about a number of different topics. The biggest component to his testimony, was the implication that QE3 is likely to occur. He said, "The possibility remains that the recent economic weakness may prove more persistent than expected and that deflationary risks might reemerge, implying a need for additional policy support." The economy is expected to grow “a... Read More
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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.
