APMEX | Daily Gold & Silver Market Report – 7/31/2015


Gold is at its longest retreat in 16 years as the U.S. dollar is still firm and U.S. data is signaling an interest rate hike in September. July is also Gold’s biggest monthly decline in two years. “Gold is an asset that pays no interest or coupon and the rate hike is certainly putting pressure on prices,” ING Bank senior strategist Hamza Khan said. “We could see the fall extending to a triple-digit level, but that could trigger some buying, especially among Asian consumers.” Spot Gold fell 0.6 percent to $1,081.30 an ounce, losing 1.6 percent for the week.

Gold is further declining after the Federal Reserve’s meeting this week that said our economy is “expanding moderately.” Argonaut Securities analyst Helen Lau referred to the U.S. rate increase, saying, “[it] is enough to keep Gold trading at low levels.” According to former Fed officials, they will not need balanced economic risks to proceed with a September rate hike.

At 9:24 A.M. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,102.30 Up $10.40
  • Silver, $15.06 Up $0.24
  • Platinum, $992.90 Up $2.00
  • Palladium, $620.30 Down  $3.30

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
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.