APMEX | Daily Gold & Silver Market Report – 8/28/2015


The Gold price is slightly up Friday but is still on track for its biggest weekly drop, as U.S. data supports a near-term interest rate increase. Despite the recent turmoil in China, an increase is still expected.  “The big question for next week is whether the anxiety that crept into the market on August 10 when China devalued its currency is going to continue,” Saxo Bank senior manager Ole Hansen said. “We are only a few weeks away from the [U.S. Federal Reserve] policy meeting and that is going to attract a lot of attention as well.”

Lower metal prices haven’t spiked demand in Asia, as they are still concentrating  on stocks. Regardless, INTL FCStone analyst Edward Meir said in a note, “For all the talk of market turmoil, it is important to note that the Fed does not typically look at overseas developments to make its rate decision and we don't think this time will be any different.” Spot Gold was up 0.4 percent at $1,129.80 an ounce Friday morning, but was down 2.6 percent for the week. The metal has lost more than 3 percent since hitting a seven-week high on August 21.

At 9:41 A.M. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,135.50 Up $9.70
  • Silver, $14.65 Up $0.12
  • Platinum, $1015.50 Up $8.50
  • Palladium, $579.80 Up $10.20

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.