Precious Metals Market Reports
Morning Gold & Silver Market Report – 6/3/2011
JOBS REPORT EVEN WORSE THAN EXPECTED, YEMENI PRESIDENT KILLED (OR NOT?) Fears of a double-dip recession seemed to hang on this morning’s nonfarm payrolls report, and when it was released, the fears hit the other side with a resounding “thud.” To put the report in perspective, April’s numbers showed an increase of 244,000 jobs. May’s numbers were expected to be disappointing already, somewhere around 125,000. Read More
Closing Gold & Silver Market Report – 6/2/2011
TOMORROW IS THE ECONOMIC RECOVERY’S GROUNDHOG DAY! Precious metals remain lower this afternoon, however a recent warning from Moody’s Investors Service may change that. The credit rating agency warned the United States that if there is no progress in the debt limit situation, the important Aaa debt rating could possibly be downgraded soon. Warnings of a downgrade aren’t new, but earlier repor... Read More
Mid-Day Gold & Silver Market Report – 6/2/2011
OIL UP FOR GRABS Precious metals are up today on the news of the jobs report and fears of a double dip recession. The U.S. dollar recovered from this morning’s report, but precious metals are trading higher at the moment, despite historical reactions to the contrary. One possibility for this is that the dollar only appears stronger since it is being compared to the euro, which is sliding due to the debt crisis in the Eurozone, namely Greece. Even though the dollar is “winning” agai... Read More
Morning Gold & Silver Market Report – 6/2/2011
JOBLESS CLAIMS DOWN, DOLLAR WELCOMES THEM Jobless claims fell this morning, though not as much as anticipated. The four-week moving average fell by 14,000 to a one-month low. The U.S. dollar started the day down, and Read More
Closing Gold & Silver Market Report - 6/1/2011
GREEK CREDIT CUT, QE3 NOT LOOKING LIKELY Earlier in the day there were hopes Greece would finally be getting the economic help it needs to sustain itself. However, Moody’s has cut Greece’s credit rating by three notches, which puts it in an extremely speculative phase. This means that the payoff of Greek debt is no longer based on funds and paybacks of loans, but speculation. The outlook is quite negative. The Gross Domestic Product rating has also fallen off, 3.0% so far this year... Read More
Mid-Day Gold & Silver Market Report – 6/1/2011
U.S. ECONOMY IS SLOWING DOWN, RUMORS OF QE3 – It’s hard to find good news about the economy lately. Painfully slow jobs growth, decline in the value of the dollar, Read More
Morning Gold & Silver Market Report – 6/1/2011
“DISAPPOINTING” JOBS REPORT - WHEN DOES THIS STOP BEING A SURPRISE? Another week, another disappointing jobs report. This time, it is the ADP private sector jobs report. Fully expected to be up by 175,000, the report showed just 38,000 new private sector jobs in May. The futures market opened low this morning, as investors and analysts awaited this report. Now that t... Read More
Closing Gold & Silver Market Report – 5/31/2011
FINANCIAL UNCERTAINTY LOOMS – Although good news broke on the Greek debt crisis today, other news stories point toward an uncertain financial future for the US and the world. Domestically, the Case-Schiller Index, which measures housing prices, hit an 8-year low. This indicates that we are headed toward, if not already in, a double-dip recession in the housin... Read More
Mid-Day Gold & Silver Market Report – 5/31/2011
IS GOLD THE NEXT CURRENCY? Gold is being seen more and more as a non-fiat currency as geopolitical tensions still rising, continued downgraded credit ratings of many of the European countries as well as the dire outlook for the U.S. economy. Gold has been a safe haven against failing currencies throughout the ages and continues to do so as even central banks have run to the safety the metal provides. However, it seems as though major investors and financial institutions, as well as... Read More
Morning Gold & Silver Market Report – 5/31/2011
GOLD’S CLIMB SIGNALS HYPERINFLATION? Last week saw a jump of nearly 2% for gold (which would have been a record high just one month ago), and the jump seemed to catch the attention of many analysts and investors alike. This brought about short-term predictions of gold hitting $1,560 or even $1,600 from numerous outfits. Of course, n... Read More
Closing Gold & Silver Market Report –5/27/2011
YEMEN BOMBS OWN PEOPLE AND CIVIL WAR ERRUPTS; DOES ANOTHER MIDDLE EASTERN COUNTRY START TO FALL? Precious metals were all rising today on the continued worries about the sovereign debt crisis as well as the ongoing worries about the United States’ debt limit approaching. The U.S. dollar took a hit and lost 0.66% in today’s trading while Read More
Mid-Day Gold & Silver Market Report –5/27/2011
GOLD UP, DOLLAR DOWN – The US Dollar Index is down almost 0.9% at mid-day today, pushing gold prices up. There have been many forces acting on the value of the dollar lately: Euro zone ... Read More
Morning Gold & Silver Market Report –5/27/2011
WHO LOSES BIG IF GREECE RESTRUCTURES? – There are many who even wonder why we should care if Greece defaults on their loans. So what if they can only pay back 50 cents on... Read More
Closing Gold & Silver Market Report – 5/26/2011
CHINA’S GOLD DEMAND TO RISE 22% THREE YEARS - China is rapidly closing in on India, as the world’s largest consumer of gold. Although China is one of the leading producers of gold, they cannot produce near enough to satisfy their appetite. Gold production should reach 400 tonnes by 2014 with a gain of 19%, but still the demand will be for 700 tonnes. Read More
Mid-Day Gold & Silver Market Report – 5/26/2011
CROSSCURRENTS IN THE MARKET CREATE UNCERTAINTY FOR THE FUTURE – Aid from China might not be enough to keep Greece from economic meltdown. It appears unlikely that Greece will be able to meet its goal for trimming its budget deficit in 2011, and as a consequence, the IMF may not provide funds for the next round of aid packages. If Greece is allowed to default this may set a precedent f... Read More
Morning Gold & Silver Market Report – 5/26/2011
GDP & JOBS REPORT BOTH DISAPPOINT - The US GNP report just came out and the US economy grew less than expected in the 1st quarter…up only 1.8%. The weekly jobs report also was just released and once again, it made a surprise move upward, as it increased by 10,000 to 424,000. It was expected to come down to 405,000. Read More
Closing Gold & Silver Market Report – 5/25/2011
FINANCIAL INSTABILITY SUPPORTS GOLD – Gold’s attractiveness as a store of wealth continued to grow today. The primary factors supporting gold are the ongoing debt concerns coming out of Greece and the ramifications they have on the rest of the euro zone. Analysts at VTB capital in London said in a note to clients, “We think that gold will remain well supported in ... Read More
Mid-Day Gold & Silver Market Report – 5/25/2011
HEAVY NATO BOMBING IN TRIPOLI – For two nights in a row, NATO forces have launched nightly bombing attacks against Gaddafi forces in Tripoli. President Obama has issued another warning to President Gaddafi that there will be “no let up” until he is gone. This conflict is now three-months old (much longer than expected) and although President Obama will not predict when Gaddafi will ... Read More
Morning Gold & Silver Report –5/25/2011
DEBT CRISIS DEBT CRISIS DEBT CRISIS - According to a poll by the Washington Post, Americans are far more worried by the overall growing US debt, than they are worried about whether Congress will raise the debt limit. When asked to express their big... Read More
Closing Gold & Silver Market Report – 5/24/2011
GOLD & SILVER RISE AS SAFE HAVEN INVESTMENT – All four precious metal prices are up and gold reached its best since May 3. It is worth pointing out that although silver went through a wild ride recently, gold did not experience the same turbul... Read More
Mid-Day Gold & Silver Report – May 24, 2011
CURRENCIES ON ROLLER COASTER SEND PEOPLE REACHING FOR GOLD Precious metals are rallying today on continued news of the Europe’s sovereign-debt crisis and the downgrading of Belgium and Italy. As of the last week, this news has driven the dollar up against the euro and kept the prices of metals steady. However, it seems that the severity of this news is starting to sink in with the population and they are realizing that even though the dollar was rising against a flailing euro, it s... Read More
Morning Gold & Silver Report – May 24, 2011
CHINESE CITIZENS BUYING GOLD IN RECORD AMOUNTS - China bought more gold in the first quarter 2011, than the combined totals of the developed Western Nations. Demand in France, Germany and Switzerland increased triple-digits, yet China outpaced them all put together. The Chinese government made it legal to own gold in 2001 and since that time gold as an invest... Read More
Closing Gold & Silver Market Report – 5/23/2011
INVESTORS LOOK TO GOLD – Gold showed its resilience vs. other commodities, proving its safe haven appeal, closing at nearly a two week high, while other metals were slightly off the mark. Bart Melek, head of commodity Strategy with TD Bank Financial Group summed it up nicely when he said, “Gold is doing relatively well. This whole sovereign debt crisis will contin... Read More
Mid-Day Gold & Silver Market Report – 5/23/2011
VOLCANO ERUPTION DISPERSES NEW FEARS Precious metals stay steady while bombarded with conflicting news. Italy was downgraded, and while seemingly insignificant, this goes to show even further decay of Europe’s financial situation. As well as the fact that analysts at UniCredit downgraded the insurance sector and the basic-resources sector in Europe to neutral from ove... Read More
Mid-Day Gold & Silver Market Report – 5/23/2011
VOLCANO ERUPTION DISPERSES NEW FEARS Precious metals stay steady while bombarded with conflicting news. Italy was downgraded from an A+ to an A-, and while seemingly insignificant, this goes to show even further decay of Europe’s financial situation. As well as the fact that analysts at UniCredit downgraded the insurance sector and the basic-resources sector in Europe... Read More
Morning Gold & Silver Market Report – 5/23/2011
SPANISH ELECTIONS HEAP MORE CONCERN ON EUROPEAN DEBT CRISIS – IS ITALY NEXT? – Standard & Poor’s just cut its rating for Italy from neutral to negative. Fitch Ratings cut Greece once again on Friday. The Spanish Socialists Party suffered major losses in local elections, which is a clear signal that Spanish voters do not want austerity measures. All of these factors continue t... Read More
Closing Gold & Silver Market Report – 5/20/2011
GOLD STRONG, STOCKS WEAK ON VOLATILE DAY IN CURRENCIES MARKET – Gold finished the week strong on news of a downgrade of Greek debt by the ratings agency Fitch. This news hit the euro hard, as it fell more than 1% today against the dollar. Citigroup announced a belief that this breakout will start a downtrend for the euro, in which it may continue to s... Read More
Morning Gold & Silver Market Report – 5/20/2011
BAD ECONOMIC DATA = FED CONTINUING ULTRA-LOOSE POLICY? Gold and silver recovered quickly from early-morning losses, with gold eclipsing $1,500 and silver looking to hold over $35. Prices are being supported by the dollar continuing its slide versus the euro. Stocks are slightly lower this morning as investors are waiti... Read More
Closing Gold & Silver Market Report – 5/19/2011
CENTRAL BANKS SNAP UP METALS and take advantage of the current sell-offs, feeling prices will be supported by “the uncertainty over the US economy and the dollar, ongoing European sovereign debt concerns, global inflationary pressures and continued tensions in the Middle East and North Africa,” said the group’s managing director, Marcus Grubb, in an interview with CNBC. Grubb goes on to say, “ Read More
Mid-Day Gold & Silver Market Report – 5/19/2011
MORE SIGNS OF SLUGGISH GROWTH FOR THE US ECONOMY – There were several key economic reports that came out today, that indicate slower economic growth in the US. Factory activity in the Mid-Atlantic region grew slower than expected. A gauge of future economic activity (Philadelphia Fed Board), fell for the first time in nearly a year during April. There was an unexpected d... Read More
Morning Gold & Silver Market Report – 5/19/2011
JOBLESS CLAIMS DOWN; IMF CHIEF RESIGNS The weekly jobless claims report was released this morning, and showed an improvement from last week. New jobless claims were at 409,000, down from 434,000, and about 11,000 better than forecast. However, the four-week moving average, often seen as a better indicator of trends, increased to 439,000, which... Read More
Closing Gold & Silver Market Report – 5/18/2011
FULL-DAY RALLY HOLDS UP PRICES – It sounds eerily familiar to last month’s story, but gold and silver both saw modest gains today. Silver led the rally gaining more than $1.50, while gold gained a respectable $16.40. Inflation fears both here and abroad are bringing investors back to precious metals for their safe haven appeal. Adding to the rally today was a weaker dollar. Recently, the dollar has been gaining strength against the basket of six currencies its compa... Read More
Mid-Day Gold & Silver Market Report – 5/18/2011
SILVER UP OVER 5%; IMF CHIEF’S ARREST COULD HELP CHINA Precious metals continue to climb thanks to inflationary concerns, as crude oil jumped past $100. Adam Klopfenstein of Lind-Waldock in Chicago explains, “The risk appetite is coming back to commodities across the board … Anytime you see a pullback, people will come in and buy gold t... Read More
Morning Gold & Silver Market Report – 5/18/2011
PRECIOUS METALS REBOUND; CHINA HEADED FOR RECESSION? Precious metals are up across the board in early-morning trading, thanks in part to the dollar sliding versus the euro. The euro hit a seven-week low earlier this week, but has since recovered. Afshin Nabavi of MKS Finance says, “The demand for physical [precious metals] is rather interesting again.” ... Read More
Closing Gold & Silver Market Report – 5/17/2011
PLATINUM AND PALLADIUM TRADE HIGHER ON NEWS OF SHORTAGES – In a report by Johnson Matthey, platinum and palladium supplies will be much lower this year. Both are very industrial metals used in the auto industry. The auto industry has been an increasing source of demand, and should be a 10-year peak this year. Meanwhile, on the supply side, Russia’s output is predicted to b... Read More
Mid-Day Gold & Silver Market Report – 5/17/2011
RISK OF DEFAULT IN GREECE IS RISING – The arrest of Dominique Strauss-Kahn, head of the International Monetary Fund, has increased the probability that Greece could either default or be forced to re-structure their debts. Strauss-Kahn has been a major force in coordinating the actions amongst the European nations and the loss of his leadershi... Read More
Morning Gold & Silver Market Report – 5/17/2011
FINANCIAL REPRESSION IS COMING TO AMERICA – Mohamed El-Erian, co-CEO of the world’s largest bond fund warns that America could soon face higher inflation, austerity measures and financial repression as our political leaders and policy makers struggle to deal with the impact of our financial crisis. Mr. El-Erian described financial repression as the seeking to impose negative real rates of returns on investors. “Think of the debt... Read More
Closing Gold & Silver Market Report – 5/16/2011
THE ARREST HEARD ‘ROUND THE WORLD The arrest of Strauss-Kahn, the International Monetary Fund chief, has been top news today and has had people laying in wait to see how stocks, commodities and currencies will be affected by this event. Why has this one man’s arrest sent the world spinning into worry mode? Greg Anderson, a currency strategist at Citigroup, weighs in, saying, “ Read More
Morning Gold & Silver Market Report – 5/16/2011
ARREST OF IMF CHIEF CASTS MORE UNCERTAINTY ON EURO ZONE CRISIS - The International Monetary Fund’s Chief Executive, Dominique Strauss – Kahn was arrested in New York City on Sunday on charges that he allegedly raped a hotel maid. Strauss-Kahn was also leading in the polls to become France’s next president. As IMF Chief, Strauss-Kahn was a charismatic leader who led the IMF through 2007-2009 global financial meltdown. He has been... Read More
Closing Gold & Silver Market Report – 5/13/2011
EXPERT SAYS TO BET AGAINST TREASURIES AND OWN GOLD - This is according to Charles de Vaulx, who oversees mutual funds IVA Worldwide and IVA International. “We control risk by owning gold,” de Vaulx said. “As long as the policymakers are being irresponsible, it’s good to own some... Read More
Mid-Day Gold & Silver Market Report – 5/13/2011
FRIDAY THE 13TH FEARS EQUATE TO INFLATION – Stocks are trading lower Friday, primarily driven by concerns over inflation and a strengthening dollar. "Core inflation is beginning to accelerate. Bernanke may be on the wrong side of this while some of the regional Fed presidents may be closer to the mark," said Michael Strauss chief economist and chief investment strategist a... Read More
Morning Gold & Silver Market Report – 5/13/2011
EUROPEAN COUNTRIES GDP RISE, U.S. CPI RISES The rise in food and fuel prices, domestically, is causing an overall rise in cost of living. The CPI (Consumer Price Index) increased 0.4 percent in April, following a 0.5 percent increase in March. The core measure results, which exclude food and energy costs, increased 0.2 percent, accordi... Read More
Closing Gold & Silver Market Report – 5/12/2011
THE DOLLAR PUSHES AND PULLS ON COMMODITIES – The US dollar turned lower against other major currencies Thursday, giving gold room to go positive. Silver had fallen nearly 3% early in the day but shaved some of its losses as the dollar weakened. As we have seen these past few days, the ebb and flow of the dollar has significant impact on the price of silver and gold. An inflating dollar, generally, will l... Read More
Mid-Day Gold & Silver Market Report – 5/12/2011
PRECIOUS METALS FIGHT FOR RECOVERY Precious metals started lower this morning on news of a stronger dollar but have picked up in mid-day trading with gold hovering back around $1,500. Silver is still bouncing around $34/$35 despite yesterday’s gain after news of the Shanghai Gold Exchange raising its own margin requirements for silver, just as CME did last week, making it ... Read More
Morning Gold & Silver Market Report – 5/12/2011
JOBLESS CLAIMS FALL; EUROPEAN DEBT CONCERNS STILL THERE In a public address last night, President Obama urged American companies to “step up”. He urged banks and corporations to do more to help the economy. The outlook for a full recovery is still several years away. He said, "American taxpayers contributed to that process of stabilizing the economy. Companies have benefited from that, and they're making a lot of money,... Read More
Closing Gold & Silver Market Report – 5/11/2011
PRECIOUS METALS DOWN ON A STRONGER DOLLAR – When the dollar gains strength commodities such as gold and silver become more expensive to holders of other currencies. This effect was seen today as the dollar gained against the euro. Some traders are predicting Greece’s default to be inevitable. If that were to happen, Greece’s debt would have to be restructured. Read More
Mid-Day Gold & Silver Market Report – 5/11/2011
METALS RELAX ON HIGHER DOLLAR Precious metals are pulling back slightly on news of a stronger dollar as well as profit taking after a few strong days. Scott Redler, chief strategic officer at T3Live.com, and other traders initiated some short positions yesterday, looking to bet against higher prices, especially in silver. There is news that China has high inflation numbers but falling indus... Read More
Morning Gold & Silver Market Report – 5/11/2011
U.S., CHINA SHOW SIGNS OF MIDDLE GROUND After two days of meetings, and the release of pertinent data, U.S. trade deficit expanded, as exports increased to a new record, with imports rising, primarily, on oil costs. The deficit between imports and exports suggests a stronger U.S. and global demand for goods. These are levels last seen before the crisis in 2008. The Chinese also saw an ease in their trade deficit, which r... Read More
Closing Gold & Silver Market Report – 5/10/2011
GEOPOLITICAL TENSION AND ECONOMIC WOES TURN INVESTORS TO PRECIOUS METALS – It was this time last week that the commodity markets were facing sell offs and increased margin calls. Today it is a different story as the economic community resets their collective thinking. Mark Luschini, chief investment strategist at broker-dealer Janney Montgomery Scott said, "F... Read More
Mid-Day Gold & Silver Market Report – 5/10/2011
GOLD AND SILVER ADVANCE ON EURO TROUBLES Precious metals are advancing on the news that Standard and Poor downgraded Greece’s credit rating yesterday for the fourth time since April 2010, saying that even further reductions are possible. Another reduction would make Greece the lowest-rated nation in Europe. Andrey Kryuchenkov, an analyst at VTB Capital in London says in a report to clients, “Economic uncertainties in the monetary union and fears over peripheral debt were returning ... Read More
Morning Gold & Silver Market Report – 5/10/2011
IS THERE A GREEK BAILOUT? MAYBE, MAYBE NOT… Officials in Greece are refuting a rumor involving the need for a new aid package. A senior finance ministry official says, "Greece is not holding any discussion on any new aid package, such reports about discussions on new aid are not true.” German Chancellor, Angela Merkel, did not rule out Greek aid, but is awaiting the findings of EU and IMF reports. She says, Read More
Closing Gold & Silver Market Report – 5/9/2011
A STRONG DAY FOR GOLD AND SILVER – Commodities as a whole rebounded today after the biggest weekly slide since 2008. European equities fell and Greek bonds dropped as Standard & Poor’s cut the nations credit rating again, while Moody’s put them on notice for a future downgrade. Read More
Mid-Day Gold & Silver Market Report – 5/9/2011
SILVER HOTTER INVESTMENT AFTER DROP Metals are moving up again after last week’s sell offs. The U.S. dollar was down this morning after its 3% rally last week with rumors that Greece might leave the European Union. These factors contributed to the lower metal prices last week, however David Morgan, founder of silver-investor.com, is still bullish for the metals. “The fundamental fact r... Read More
Morning Gold & Silver Market Report – 5/9/2011
U.S. AND CHINA TALK, ECONOMY AND INFLATION CONCERNS The U.S. and China begin two days of dialogue today, in the hope to smooth over their sometimes contentious policy differences. The Chinese are concerned over President Obama’s fiscal clean up policy. The U.S. has concerns that the yuan is undervalued and have serious concerns over human rights issues in China. According to ... Read More
Closing Gold & Silver Market Report – 5/6/2011
GREECE DENIES RUMORS IT MAY QUIT THE EUROPEAN UNION - Investors, this is a story that needs to be watched because if there is any truth in this, it could be devastating to the European economy. All parties involved deny that there is any truth to the story, first reported by Spiegel Online, but the truth is for now, we do not know. There are meetings scheduled tonight in... Read More
Mid-Day Gold & Silver Market Report – May 6, 2011
OIL PRICES RECOVER – GOLD PRICES AS WELL- Commodities are bouncing off yesterday’s declines and we once again have the unusual occurrence of oil, stock and precious metal prices headed in the same direction. Yesterday, they were all down and today they are all up. Read More
Morning Gold & Silver Market Report – 5/6/2010
THE DAY AFTER A HUGE CORRECTION -We need to begin today’s news with the news that occurred yesterday. Commodity prices had a major correction across the board. Crude oil prices fell 8.6% and are now below $100 per barrel. Gold prices fell $42 per oz and have retreated below $1500.Growing concerns about the economic recovery drove the stock market down, as well as platinum and pall... Read More
Closing Gold & Silver Market Report -5/5/2011
OIL SLIDES 8.6% IN ONE DAY – Oil fell below $100 per barrel on the concerns that a slumping economic climate will lower demand. The stock market was down triple digits and precious metals went through a major correction. It all started with the precious metals earlier,” said James Cordier, a portfolio manager at Optionsellers.com in Florida. “Oil is down bec... Read More
Mid-Day Gold & Silver Market Report – May 5, 2011
US HOME PRICES OFFICIALLY DOUBLE DIP – According to a new report by Clear Capital, home prices have double dipped nationwide. Nationwide prices are now lower than their low point of 2009. Prices have fallen 11.5% in the past nine months. Over one third of the national home sales are coming from bank owned properties (REO) and banks want to get these properties off their books, thus driving prices down. Read More
Morning Gold & Silver Market Report – 5/5/2011
JOBS REPORT = MORE BAD NEWS FOR ECONOMIC RECOVERY – The number of US claims for unemployment was expected to drop 19,000 this week, but instead rose by 43,000 to 474,000. This is the highest level in eight months. The four-week moving average for jobless claims, considered the better trend measurement, rose 22,250 and is now over 400,000 to 431,250…the highest since November. Read More
Closing Gold & Silver Market Report – May 4, 2011
MEXICO’S CENTRAL BANK TRADES DOLLARS FOR GOLD – Mexico made a major play in the gold market during the first quarter 2011. They boosted their foreign reserves by trading $4 Billion worth of US Dollars for $4 Billion in gold. "They're probably thinking that getting out of dollars and into gold makes sense because we know that the dollar has some trend to depreciate in the near future at... Read More
Mid-Day Gold & Silver Market Report – 5/4/2011
MEXICO, RUSSIA, THAILAND COMBINE FOR $6 BILLION GOLD PURCHASES “Central banks have good reason to buy gold,” said Peter Morici, a former economic advisor to the U.S. government and current professor of business at the University of Maryland. He went on to add that budget and debt issues mean that central banks should contin... Read More
Morning Gold & Silver Market Report – 5/4/2011
JOBS REPORT DISAPPOINTING - The ADP Private Sector jobs report just came out and the private sector added 179,000 jobs in April. This was lower than the expected 200,000. The one piece of good news is that layoffs reached a 2011 low. Stock futures which were already dropping in anticipation of this report, declined further on the announcement. Precious metal prices continued their retreat in overnight trading, but gold and silve... Read More
Closing Gold & Silver Market Report – 5/3/2011
THE ROLLER COASTER RIDE CONTINUES – Gold and silver prices on Tuesday finished lower, gold price finished at $1,538.60 and silver was $41.74. Each metals’ drop could be considered significant, but let’s put these prices in perspective. Only two months ago, as of March 3rd 2011, gold and silver closed at $1,417.00 and $34,29, respectively. Although we have seen a price drop, analysts at Brown Brothers Harriman said in a research note, Read More
Mid-Day Gold & Silver Market Report – 5/3/2011
OBAMA LOOKS GOOD WITH BIN LADEN, BUT ECONOMY ISSUES PERSIST The stock market looks to be the main benefactor of the news regarding the death of Osama bin Laden. Investors have been avoiding stocks, in part, due to global security. Most strategists believe this will help the stock market. The missing component to the good news is the continued fall of the U.S. Dollar. The slide continues as the dollar hit its weakest level in 16 months compared to the euro. According to Jim O’Neill,... Read More
Morning Gold & Silver Market Report – 5/3/2011
US PRIDE SURGES BUT MARKETS SETTLE BACK TO REALITY - As details of the events around the assault of Osama bin Laden’s compound unfold, US national pride remains high, but markets have settled back into reality. Stock futures are looking to open lower this morning. Gold prices are stabilizing on continued concerns with global inflation. Silver prices continue to be volatile. Read More
Closing Gold & Silver Market Report – 5/2/2011
BIN LADEN DEATH WILL NOT STABILIZE OIL PRICES - Oil prices initially retreated on the news of bin Laden’s death, (as did gold), on the hopes this would promote stability in the Middle East. A panel of economists and asset managers meeting in Los Angeles today, expressed that it may cause even greater instability. Greater instability will lead to even h... Read More
Mid–Day Gold & Silver Market Report – May 2, 2011
BIN LADEN MARKET BOUNCE MAY BE SHORT LIVED - As expected, US stock futures as well as the US dollar bounced up on the news of the death of bin Laden. However, the dollar has already begun to retreat to negative territory, while stocks hold on to small gains. Osama bin Laden’s death is viewed as a positive for the US...and the world…but will it significantly affe... Read More
Morning Gold & Silver Market Report – May2,2011
MARKET IMPACTS OF OSAMA bin LADEN’s DEATH - The news that US forces killed Osama bin Laden in Pakistan is still being digested and analyzed worldwide. Let’s take a look at some immediate effects on the markets. Osama bin Laden was a threat to Middle Eastern oil fields. If this threat is now gone, these fields would be more secure. More security equates to less risk and therefore the price of oil is retreating this morning, down around $2. Read More
Closing Gold & Silver Market Report – 4/29/2011
GOLD CLOSES AT A RECORD PRICE – Gold prices continue to be a story of a weaker US dollar. Even the Central Banks are getting out of dollars to buy gold.“The dollar will continue to lose ground for the foreseeable future, Read More
Mid-Day Gold & Silver Market Report – April 29, 2011
CHINA, RUSSIA WANT MORE GOLD THAN AMERICA Central banks, which only a decade ago were selling their gold supplies, are now buying gold to lessen their reliance on the dollar as a reserve currency. According to Robert McEwen, the CEO of U.S. Gold Corp, “China is out to have more gold than America, and Russia is aspiring to the same. Wh... Read More
Morning Gold & Silver Market Report – April 29,2011
INDIA’S SILVER DEMAND TO SURGE 10% – 15% – Silver has gone up over 100% in the past six months and yet Indian demand is still expected to go up 10% - %15 this year. Investors in India are sensing an even bigger price hike and they also fear a lack of supply. ``The white metal has beaten gold in terms of returns given to investors both last year and this year so far. Gold ... Read More
Closing Gold & Silver Market Report – 4/28/2011
GOLD PRICES EXTEND RECORD BREAKING RALLY – Gold is an insurance policy and today was a day that highlighted the need for insurance. The US dollar fell even further as it was given no support by yesterday's Fed announcement. The US jobless claims were supposed to get better, (according to the experts),but they went up and not down. The first quarter... Read More
Mid-Day Gold & Silver Market Report – 4/28/2011
GOLD & SILVER HIT NEW HIGHS – Nothing new to report, but a continuation of the momentum started after yesterday’s Fed news conference. The US dollar continues to decline as well. With all the attention on gold and silver, the recent rise in palladium and platinum have been somewhat under the radar.... Read More
Morning Gold & Silver Market Report- April 28,2011
GOLD IS RISING AS THE DOLLAR IS SINKING- Yesterday’s Fed decision to stay the course has put added pressure on the US dollar. Chairman Bernanke stated that he considers inflationary pressures transitory and the lower than expected first quarter economic growth, transitory. He even might have left the door open for another round of monetary easing, once QE2 has expired. Gold and... Read More
Closing Gold & Silver Market Report – 4/27/2011
BERNANKE SPEAKS PRECIOUS METALS SOAR – The much anticipated Fed announcement came out today and they are continuing with their stimulus policy because they feel the economic growth is slowing and inflation is not a concern right now. The Fed 2011 economic growth estimate was cut from 3.4% – 3.9% to 3.1% – 3.3%. "The markdown of growth in 2011, in particular, reflects the somewhat slower than anticipated pace of growth in th... Read More
Mid-Day Gold & Silver Market Report – 4/27/2011
BERNANKE SPEAKS, PRICES CLIMB – SOUND FAMILIAR? Precious metals are recovering from yesterday’s losses amid the Federal Reserve’s statement that they are holding to the economic stimulus plan and low interest rates they have put in place. The Fed also says that it believes the economic recovery is proceeding at a moderate pace, also saying, “Inflation has picked up in recent months, but longer-term... Read More
Morning Gold & Silver Market Report – 4/27/2011
INVESTORS AWAIT FED MEETING ANNOUNCEMENT – The US dollar drops again to nearly a three year low against a basket of six other major currencies. Gold and silver investors will be closely monitoring the Fed announcement today, at 11:30 AM (ET) and the Read More
Closing Gold & Silver Market Report – 4/26/2011
GOLD – THE PERFECT ANTI-INVESTMENT – The University of Texas made an extraordinary investment decision on April 15th, when they not only moved 5% of their assets into gold; they actually bought gold and not an ETF. This second-largest academic endowment in the US, decided that they needed insurance against inflation, as a result of current fiscal and monetary policies. “The... Read More
Mid-Day Gold & Silver Market Report – 4/26/2011
THE AGE OF AMERICA WILL END IN 2016 WHEN CHINA BLOWS PAST US (ACCORDING TO THE IMF) – Yesterday, we reported this startling prediction and today it began to have “legs”. The International Monetary Fund, using an economic measure called “purchasing price parity”, projects China’s economy surpassing that of the ... Read More
Morning Gold & Silver Market Report – 4/26/2011
HOME PRICES DROP AGAIN – The Case-Shiller report came out this morning and home prices fell for the 8th straight month in February. Although this drop exceeded expectations by 0.3%, it is still indicative of a housing market struggling to recover. Gold and silver are recovering this morning from earlier losses in the Asian markets. The London market was closed on Monday, so trading volumes were thin. The opening of the L... 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.
