APMEX | Daily Gold & Silver Market Report 4/17/2015

LOOMING RATE HIKE STILL AFFECTING GOLD

Gold is back up above $1,200 an ounce Friday morning despite uncertainty the Federal Reserve will raise interest rates this year. Since Gold generally works in negative correlation to the U.S. dollar, rising rates would boost the dollar while lifting the opportunity cost of holding non-yielding bullion. “Expectation once again is for rate rises to be pushed out even later. September or October has been our base assumption for some time, but I've heard talk in the last couple of days of rate rises being pushed out to 2016,” Mitsubishi analyst Jonathan Butler said.  Spot Gold rose 0.5 percent Friday, while U.S. Gold futures for June delivery rose $4.90 per ounce to $1,202.90.

The expected interest rate is also affecting oil, with gas prices seeing their largest increase since February 2013, rising 3.9 percent. Food prices slipped 0.2 percent last month. March's consumer price gains are likely to strengthen the Fed's view that inflation will move toward their 2 percent target as the dampening effect of lower energy prices fades. Consumers are waiting to see when the rate hike will happen. In the meantime, it will not only affect metals, but oil and food prices as well.

 

At 9:25 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,207.00 Up $6.20
  • Silver, $16.38 Up $0.00
  • Platinum, $1,166.48 Up $6.20
  • Palladium, $782.10 Up $0.40

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.

Apmex Bullion Center: Get Started Investing
AdChoice
Disclaimer: All content is provided by APMEX or the FTC "as-is" for educational purposes only. The author, publisher, Triad Digital Media, LLC d/b/a Triad Retail Media, and eBay Inc. do not warrant the accuracy of any content and have no responsibility for errors, omissions, or contrary interpretation of any content. The content has no regard to specific investment objectives, financial situation, or particular needs of any visitor. References to third parties are based on information obtained from sources believed to be reliable but are not guaranteed to be accurate or current. Visitors and prospective buyers should not regard it as a substitute for exercising their own judgment. The APMEX and FTC disclaimers (http://www.ftc.gov/foia/disclaimer.shtm) apply to all content.