7/25/2014 8:08:35 AM By: Ryan Schwimmer

 

GOLD RECOVERS FROM FIVE-WEEK LOW

The Gold price recovered from a five-week low as it  climbed closer to the psychological $1,300 per ounce level  in early-morning trading. Commerzbank analysts cite the low demand in Asia as a main reason for Gold' s trouble breaking higher. They wrote, " The World Gold Council' s forecasts of Chinese Gold demand, which were issued at the beginning of the year and envisaged demand being on a similar scale in 2014 as it was in 2013, meanwhile appear ambitious. In our opinion, the weak Gold demand figures to come out of Asia - not only China - of late preclude any rise in Gold prices."

U.S. stock futures are pointing towards a negative start for Wall Street due to a heavy loss in Amazon stock and the  ongoing geopolitical situations in Ukraine and Gaza. In Gaza, 15 people were killed yesterday after a shelter was shelled. Meanwhile, the European Union is considering further sanctions on Russia after the downing of Malaysia Airlines flight MH17.

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

• Gold, $1,295.10, Up $3.40.
• Silver, $20.51, Up $0.09.

7/24/2014 4:01:52 PM By: Ted Prince

 

GOLD UNDER PRESSURE AS STOCKS REACH ANOTHER RECORD

Gold came under pressure today as signs of global economic improvement temporarily quelled demand for the yellow metal.  Strong data out of China coupled with news that U.S. jobless claims plunged to their lowest level since early 2006 to suppress metals prices and boost equities markets.  Geopolitical tension has been the central motivator of higher Precious Metals prices this year.  Conflict in Ukraine and now Iraq and the Gaza strip have helped buoy the Gold price as economic factors are largely working against higher metals prices.

The S& P 500 has realized a new record high today and Gold and Silver have fallen as a result.  However, physical purchase of Gold bars in India could boost long-term prices for the metal.  A report from the Gems and Jewelry Export Promotion Council shows a sharp rise of 28.43% on Gold bar imports for the month of June 2014.  Even with strong physical buying in India, China was able to surpass the nation in 2013 as the world&rsquo s number one importer of Gold bullion.

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

• Gold, $1,295.00 Down $10.70
• Silver, $20.43 Down $0.57

 

July 24, 2014 - 05:47:16 PDT

Initial Jobless Claims Plunge To Jan 2006 Lows, Government Warns Of " Seasonal Volatility"

So much for the idea of ' slack' in the economy, initial jobless claims just plunged 19k week-over-week to 284k (vs 307k ... Read More

7/24/2014 8:14:50 AM By: Ryan Schwimmer

 

GOLD DOWN AMID 8-YEAR LOW JOBLESS CLAIMS

Strong data out of China and the eurozone pressured Gold below the $1,300 per ounce level in early-morning trading. Physical demand for Gold in China increased after the price fell, though is still considered weak  when compared to earlier this year. Natixis analyst Bernard Dahdah said, " The market is going to follow very closely any comments from the Federal Reserve about interest rates as that is likely to continue having an impact on Gold' s trading pattern."

U.S. jobless claims fell to their lowest level in eight years, according to  data released by the Labor Department this morning. The figure of 284,000 is much lower than the expected 310,000. The four-week moving average fell to its lowest level since May 2007. U.S. stock futures increased, pointing toward a higher open for Wall Street. The Dow Jones Industrial Average held above 17,000, and the S& P 500 index closed in on 2,000.

 

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

• Gold, $1,299.90, Down $5.70.
• Silver, $20.91, Down $0.09.

7/23/2014 4:04:02 PM By: Paul Stevens

METAL PRICES FLAT AS UKRAINE AND ISRAEL DOMINATE HEADLINES

Precious Metal prices are holding steady and trading flat through afternoon trading.  Although this will be the second straight day Gold futures have declined, continued turmoil in the Middle East and Ukraine have provided support to metals.  Blake Robben, a senior market strategist at Archer Financial Services in Chicago said, " There is definitely some temporary support because of geopolitical tensions, but the strength in the equity market continues to be a big headwind."

Equity markets around the world edged slightly higher on Wednesday after data released showed solid corporate earnings which increased the demand for more " risky" assets.  However, strong demand for safe-haven assets has continued as investors continue to monitor geopolitical situations around the world.  Rick Meckler, president of hedge fund LibertyView Capital Management in Jersey City, New Jersey said, " The bottom line is investors have moved away, for now, from the big political stories and are refocused on earnings, which in general have been good."

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

• Gold, $1,306.00 Down $1.30
• Silver,$20.97 Down $0.04

7/23/2014 10:03:56 AM By: Ryan Schwimmer

PRICES FLAT AMID GEOPOLITICAL TENSIONS

Gold and Silver prices are mostly flat in morning trading. Commodities analysts at Commerzbank wrote Wednesday that there is only " slight upside potential" in the short term for the yellow metal, but geopolitical tensions, if heightened, could boost Gold' s safe haven appeal. Gold is also hurting from waning physical demand in China and India, the world' s top Gold buyers.

Stocks fluctuated this morning after the S& P 500  index hit another record. Robert Pavlic, chief market strategist at Banyan Partners, said, " Overall, the market is still on a positive trajectory, but there is still some concern about growth going forward, the Federal Reserve and geopolitical events." JJ Kinahan, chief strategist at TD Ameritrade, said, " We did have another Ukraine situation this morning with some planes, and whenever you have any geopolitical situation it casts nervousness over everything."

At 11:02 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,307.90, Up $0.60.
• Silver, $21.00, Down $0.01.

7/22/2014 4:02:09 PM By: Ted Prince

MIDDLE EAST BULLION DEMAND COULD BOOST LONG-TERM GOLD PRICE

The Gold price has shifted slightly lower today as speculation regarding a  near-term hike in interest rates  weighed on the yellow metal.  Though Gold is still trading above $1,300 an ounce, higher interest rate expectations are sidelining some Precious Metals investors.  However, geopolitical crises are still offering some support and the announcement of trade expansion for bullion in the Middle East could force prices even higher over the long term.  A spot Gold contract has been extended into Dubai and is expected to  boost the region' s demand for physical bullion  delivery.  " We believe the Middle East has a lot of potential to catch up with the rest of the world," Frederic Panizzutti, chief executive officer of Dubai' s MKS Precious Metals DMCC, said.

U.S. stocks are trading higher today as strong earnings data and lack of inflationary pressure boosted equities.  The  S& P 500 is within two points of its all-time high  as investors look to see if the rally can push the market to a new record level.  " The equity market seems destined to trend higher," Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, said. " We think there is still some modest upside if you continue to see earnings rise. The inflation numbers are supportive of higher stock prices. It reflects U.S. economic growth that is neither too slow nor too fast."

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

• Gold, $1,308.00 Down $6.90
• Silver,$21.00 Down $4.20

July 22, 2014 - 11:07:55 PDT

Jim Rogers - This Can' t Go on.

Jim Rogers is probably better now known in China now than even the U.S. In this interview on Chinese television he expec... read more

 

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7/22/2014 4:02:09 PM By: Ted Prince

MIDDLE EAST BULLION DEMAND COULD BOOST LONG-TERM GOLD PRICE

The Gold price has shifted slightly lower today as speculation regarding a near-term hike in interest rates weighed on the yellow metal.  Though Gold is still trading above $1,300 an ounce, higher interest rate expectations are sidelining some Precious Metals investors.  However, geopolitical crises are still offering some support and the announcement of trade expansion for bullion in the Middle East could force prices even higher over the long term.  A spot Gold contract has been extended into Dubai and is expected to boost the region' s demand for physical bullion delivery.  " We believe the Middle East has a lot of potential to catch up with the rest of the world," Frederic Panizzutti, chief executive officer of Dubai' s MKS Precious Metals DMCC, said.

U.S. stocks are trading higher today as strong earnings data and lack of inflationary pressure boosted equities.  The S& P 500 is within two points of its all-time high as investors look to see if the rally can push the market to a new record level.  " The equity market seems destined to trend higher," Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, said. " We think there is still some modest upside if you continue to see earnings rise. The inflation numbers are supportive of higher stock prices. It reflects U.S. economic growth that is neither too slow nor too fast."

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

• Gold, $1,308.00 Down $6.90
• Silver,$21.00 Down $4.20

7/22/2014 8:24:19 AM By: Paul Stevens

PRECIOUS METALS DOWN AHEAD OF DATA

Precious Metal prices are trading slightly lower through early morning trading.  As investors continue to monitor the fragile situations in Ukraine and Israel,  many await with a watchful eye for the release of new U.S. economic data today. Macquarie analyst Matthew Turner said, " An increase in U.S. inflation in the past few months has brought this issue back to the forefront of Gold investors' concerns, despite --- in fact partly because of --- [Federal Reserve Chair Janet Yellen] dismissing it as ' noise' ."

U.S. stocks futures are gaining momentum this morning, signaling a rise for the S& P 500 Index.  This change in direction comes as investor concerns over  the situation in Ukraine and possible deeper sanctions against Russia weighed on stocks.  Lorne Baring, managing director at B Capital SA in Geneva, said, " It&rsquo s a day-by-day encounter for markets, with every speech and communication from politicians giving us the direction for the day."

At 9:23 a.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,314.70, Down $0.20.
• Silver, $21.03, Up $0.02.