Latest Market News

Morning Gold & Silver Market Report – 12/18/2014

GOLD JUMPS ON FED NEWS; U.S. ECONOMIC ACTIVITY SLOWS

Gold rose over 2 percent this  morning with news from the U.S. Federal Reserve regarding their plan to wait to hike interest rates for at least a few policy meetings.  The assumption has already been set that interest rates would not increase until around April 2015 or later.  "The Fed left themselves lots of room going forward, depending on the (economic) figures," Afshin Nabavi, head of trading at MKS, said.  Precious Metals reacted across the board with Platinum up 2.2 percent and Palladium up 1.8 percent. 

U.S. economic activity looks as though it has slowed according to an industry report released today, which showed the services sector hit 53.6 in December down from November’s final reading of 56.2.  The minimal rate preferred is 50, which indicates growth in economic activity, although the U.S. reached a high point of 61 in June and has fallen ever since.  "The extent of the slowdown suggests that economic growth in the fourth quarter could come in below 2 percent which, with the exception of the downturn caused by adverse weather in the first quarter, would be the worst performance for two years," Chris Williamson, chief economist at Markit, said.

At 11:20 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,195.80 Down $0.70
  • Silver, $15.95 Down $0.03
  • Platinum, $1,199.20 Down $2.30
  • Palladium, $789.00 Up $9.80

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 – 12/17/2014

METALS STEADY AHEAD OF FED STATEMENT

After yesterday’s decline, Precious Metal prices are steadying during morning trading.  With the conclusion of the last Federal Open Market Committee meeting of the year, investors await an official statement for direction.  As Russia dramatically increased interest rates and pushed the ruble down more than 11 percent, concerns of a faltering global economy are resurfacing.  Natixis analyst Bernard Dahdah said, “The Gold market will be closely following what the Fed says. That will dictate the price for the next few days.  We'll be looking at whether they move into a more data-dependent decision-making process in terms of the speed at which they will take things.”

Stocks around the world are struggling Wednesday as investor portfolios continue feeling pressure from falling oil prices.  This combined with disinflation in the west is causing a rippling effect and is concerning world markets.  JP Morgan global market strategist Nikolaos Panigirtzoglou said, “The decline in oil prices is the biggest factor here. It is a problem for policymakers and a problem for the world because it creates disinflation. No market is immune ... and until markets find an equilibrium for oil prices we are going to have a lot of volatility.”

At 2:51 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,196.10 Down $0.20
  • Silver, $15.91 Up $0.11
  • Platinum, $1,197.10 Down $0.80
  • Palladium, $778.40 Down $5.60

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 – 12/15/2014

METALS DOWN AHEAD OF FED MEETING

Precious Metal prices are on the decline in morning trading following a week where Gold saw a 3 percent rise.  Data released Monday morning showed an increase in U.S. manufacturing output in November providing a boost to the dollar while pressuring metals.  The Federal Reserve will begin their last two- day policy meeting for the year and many are expecting the results to give more insight into when the interest rate hike will occur.  Natixis analyst Bernard Dahdah said, “The question now is whether the Fed will drop the considerable-time language and become more dependent on the economic data, which could lead to a rate increase in June.”

U.S. stocks experienced a slight boost on Monday following the release of U.S. industry data, while the S&P 500 rebounded from its worst week in over two years.  The industrial data added some confidence to consumers as it may signal a strengthening economy, however not everyone is convinced.  Heinz-Gerd Sonnenschein, a strategist at Deutsche Postbank AG in Bonn, Germany said, “We’re getting a rebound from what remains a nervous market. We have reasons to believe that the U.S. economy is in good shape, though this week is a difficult one to call. We’re waiting for a bunch of data, as well as the Fed meeting -- the markets will probably zigzag.”    

At 11:35 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,219.20 Down $5.30
  • Silver, $16.94 Down $0.16
  • Platinum, $1,233.30 Down $10.20
  • Palladium, $806.60 Down $9.90

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.

See all recent news