APMEX | Daily Gold & Silver Market Report – 8/26/2016


Spot Gold is up Friday ahead of Federal Reserve Chair Janet Yellen’s speech.  Investors are waiting to see if interest rates increase and today’s speech could be a good indicator. Gold has fallen steadily since the last U.S. job report came out. If there is no decisive news Friday, Gold could remain caught in its recent range between $1,310 and $1,375 per ounce. "We'll have to see whether Yellen deviates from the consensus view, which is that she'll say nothing, really, to alter the status quo," Societe Generale analyst Robin Bhar said. "Gold is treading water right now and is unlikely to see too much action. (We would need) volatility in the currency markets or the rate markets to provide some trading incentives for Gold." The yellow metal was further unchanged by the dollar holding steady this week. Silver was up 1.1 percent Friday after hitting an eight-week low of $18.46 per ounce Thursday.

St. Louis Federal Reserve President James Bullard thinks interest rates should be raised, but doesn’t think it will happen in the next two years and believes the lack of urgency in a rate increase is damaging our economy. “I think that it is hurting our credibility. By the end of this year, we’ll be two years into the process since [quantitative easing] ended, maybe have moved twice at this point. So I think that is affecting global pricing. You’ve got this policy divergence story that has been in FX markets for a long time here. … We want to line that up better with a more realistic assessment of what is going to happen over the forecast horizon,” Bullard said.

At 09:15 A.M. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,331.60 Up $7.60
  • Silver, $18.75 Up $0.18
  • Platinum, $1,079.20 Up $4.70
  • Palladium,$693.90 Up $7.40

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
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.