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Closing Gold & Silver Market Report – 8/27/2014

GEOPOLITICAL CONCERNS KEEP INVESTORS FOCUSED ON GOLD; IS A MARKET CORRECTION NEAR?

Precious Metals remained flat throughout trading Wednesday with minimal news to affect prices.  Investors were driven to risker assets due to a weaker U.S. dollar and concern that the European Central Bank may lean towards additional fiscal policy.  Geopolitical tension continues even though Ukraine and Russia agreed to work together to end further conflict in the east of the country.  "The numerous sources of geopolitical crisis are evidently preventing the gold price from slumping," Eugen Weinberg, head of commodity research at Commerzbank, said.

Markets could face a 60 percent fall in the near future according to experts David Tice, president of Tice Capital and founder of the Prudent Bear Fund and Abigail Doolittle, technical analyst the founder of Peak Theories Research.  Both experts shared their thoughts with CNBC today on how the Federal Reserve’s low interest rates could cause a 50-60 percent market correction much like what was seen in 2007.  "Unfortunately, I think it could come on a crash similar to what happened in 2007,” Doolittle, the founder of Peak Theories Research, said. “It's tough to know what the exact catalyst will be. But that's the very nature of that kind of selloff. They start slowly and then happen very suddenly."

At 5 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,284.70 Down $1.50
  • Silver, $19.49 Up $0.04
  • Platinum, $1,418.60 Down $1.00
  • Palladium, $893.30 Up $3.10

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.

Mid – Day Gold & Silver Market Report – 8/27/2014

GOLD GETS BREATHER AS EQUITIES LOSE MOMENTUM

Precious Metal prices continue trading flat through midday.  A little over two weeks after the dollar index reached a 13-month high, today’s retreat has provided breathing room for Gold. Afshin Nabavi, head of trading at MKS, said, “The market is looking closely at the dollar ... it's probably worth $10-20 as far as the Gold price is concerned. (But) Gold has to break below $1,275 [per ounce] or above $1,325 [per ounce] to get the investors interested. Otherwise, we will continue to trade (the) range”

U.S. equities retreated today, giving back some of the gains which helped the indexes reach recent record highs.  Ethan Anderson, senior portfolio manager at Rehmann Financial in Grand Rapids, MI, said, “The market is not overly expensive, not cheap either.  In the absence of strong corporate earnings, you are not necessarily going to see a huge surge in equities over the next 12 months. But the little notch up, on a regular basis, you’re likely to see continue.”

At 1:18 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,284.40 Down $1.80
  • Silver, $19.48 Up $0.03
  • Platinum, $1,419.40 Down $0.20
  • Palladium, $894.60 Up $4.50

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.

Morning Gold & Silver Market Report – 8/27/2014

GOLD ‘LIKE THE ROCKY BALBOA RIGHT NOW’

The Gold price is mostly flat in early-morning trading. With surrounding factors seemingly piling up against Gold, some analysts believe that its resiliency is a bullish sign. Jeff Kilburg of KKM Asset Management said, “I think the resiliency in Gold has been tremendous. Look at every reason the bears have had to sell it — and they have not been victorious. So I like owning Gold now, due to the fact that it's kind of like the Rocky Balboa right now — it's going around the ring, it's been knocked a bunch of times, but it will not go now … I think Gold is coiling up. And when you see it coil up like a snake, it's going to the upside.”

U.S. stock futures are looking positive for Wall Street in premarket trade, as major indexes continue a streak of record highs. Joao Monteiro, analyst at Valutrades, said, “U.S. markets remain undaunted by the dizzying highs they’re currently standing at and futures are suggesting there’s more gains to be seen at the open.” No major data is scheduled to be released today, so investor focus will be on corporate earnings results.

At 9 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,287.50, Up $1.30.
  • Silver, $19.48, Up $0.04.
  • Platinum, $1,422.20, Up $2.60.
  • Palladium, $888.80, Down $1.40.
APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.
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