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Closing Gold & Silver Market Report – 4/22/2014

GOLD DOWN AS STOCK MARKET RALLIES

The Gold price is ending the day slightly lower as investors throw money toward the rallying stock market. Colin Cieszynski, senior market analyst at CMC Markets, said, “There’s nothing specific about today’s Gold decline. It’s part of an overall outflow from defensive havens back into risk markets.” Fawad Razaqzada, technical analyst at FOREX.com, said, “Traders are understandably allocating more of their funds to speculate in the rally stock markets, as evidenced by further outflows from Gold-backed exchange traded funds.”

Meanwhile, the S&P 500 locked up its first six-day win streak in over six months, though Jim Russell, senior equity strategist for US Bank Wealth Management, warned that Ukraine could still impact markets. He said, “Stocks are reacting to modestly higher first-quarter earnings that of course are weather impacted, and the housing numbers looked constructive today. We think the Ukrainian situation is clearly the external wildcard at this point.”

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

  • Gold, $1,285.90, Down $4.60.
  • Silver, $19.46, Up $0.06.
  • Platinum, $1,401.90, Up $1.20.
  • Palladium, $785.30, Up $6.50.

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.

Mid-Day Gold & Silver Market Report – 4/22/2014

ETF OUTFLOWS CONTINUE TO PRESSURE GOLD PRICES

Gold prices are down slightly as they head into their fourth day of losses. This modestly downward trend is fueled by traders and hedge funds selling out of ETFs. "Traders seem to have given up on gold as a provider of safe haven at the moment," Saxo Bank's head of commodity research Ole Hansen said. "Instead the focus remains firmly on the United States, where earnings and economic data continue to indicate interest rates will rise sooner rather than later.” Gold prices continue to find support as events unfold in the Ukraine and retreating U.S. dollar (perhaps on the speculation that interest rates will rise sooner than later).

In a perfect world we can have both high employment and low inflation, but can these coexist? The Federal Reserve monetary policy is based on this possibility, but can it actually happen? If employment is high and people are spending money, then there are more money chasing goods and services which should drive prices up. In economics, this is called the Phillip’s curve, which describes the inverse relationship between inflation and unemployment. In today’s world, they do not move at the same speed and not all prices rise and fall together, but high employment does mean demand for higher pay and more spending. There is much attention paid to unemployment that the Federal Reserve finds no opposition in their efforts to boost the economy. Inflation is low, so who cares. As we move forward, there will be a challenging balancing act because low inflation is viewed as a good thing. The challenge will be how to hold it within an acceptable range.

At 1:05 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,282.80, Down $7.60.
  • Silver, $19.44, Up $0.04.
  • Platinum, $1,399.60, Down $1.10.
  • Palladium, $785.20, Up $6.40.

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.

Morning Gold & Silver Market Report – 4/22/2014

PRECIOUS METALS UP AS NEW SANCTIONS LOOM

Precious Metals prices are beginning to trend upward through early morning trading.  With Easter holiday now over, many investors are beginning to look to what is next.  Analysts at Danske Bank said in a note, “The dollar has in general been supported over the recent thin Easter trading days, reflecting market expectations that the U.S. economy has continued to improve and that the Fed pricing all in all is very dovish.” 

As the situation in the Ukraine continues to heat up, hope for a peaceful resolution dwindles.  As an international agreement to avoid wider conflict showed signs of faltering, U.S. and European officials have stated they will hold Moscow responsible and impose new sanctions. U.S. Department of State Spokesperson Jen Psaki said in a news briefing, “If they don't take steps in the coming days, there'll be consequences. Obviously, we would have to make a decision in the matter of — in a matter of days — if there are going to be consequences for inaction.” 

At 10:36 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,284.90, Down $5.60.
  • Silver, $19.40, Down $0.01.
  • Platinum, $1,397.10, Down $3.60.
  • Palladium, $784.80, Up $6.00.

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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