shopper approved
    2244.92
    44.43
    25.17
    0.39
    924.93
    16.63
    1051
    30.33
    banner-update21

    JM Bullion Gold and Silver Market Update (8/18/14)

    Gold Spot Price Open: $1,302

    Gold Spot Price Close: $1,298

    Change in Gold Spot Price: -$4

    Silver Spot Price Open: $19.61

    Silver Spot Price Close: $19.69

    Change in Silver Spot Price: +$0.08

    Precious metals moved around a good bit on Monday, but by the time the day came to a close most were feeling selling pressure. When all was said and done, gold lost a few dollars while silver managed to gain nearly ten cents. Palladium and platinum both trended downward for a majority of the day and finished in the red.

    Weekend Peace Talks Assuage Market Concerns

    Shortly before markets closed for the weekend on Friday, investors from around the world were growing increasingly concerned with regard to the tensions and violence ravaging much of Eastern Ukraine. One of the last reports made public on Friday came from a Ukrainian military official claiming that he and his troops had destroyed a large portion of an armed Russian military convoy. Though the fighting is continuing to take place throughout much of the eastern half of the country, investor fears have been somewhat quelled due to peace talks that took place over the weekend. The talks, headed by officials from Ukraine, Russia, Germany, and France, revolved around bringing about a ceasefire between Ukrainian military forces and separatists.

    As a result of the weekend’s talks, investors entered this week a good bit calmer, indicated by significantly stronger US stock indexes. With that said, it must be mentioned that US Treasury yields were seen dropping today, a sign that there is still some uncertainty circulating around the global marketplace. As has been the case for the past few months, any unexpected increase in violence between Russian-backed separatists and Ukrainian military forces is liable to give precious metals spot values a boost via stronger safe-haven demand.

    Kansas City Federal Reserve Meeting Awaited By Investors

    A dead give away that this week is going to be fairly slow from an economic standpoint is the fact that one of the biggest talking points of the week is the Kansas City Federal Reserve Bank meeting, scheduled to kick off on Friday in Jackson Hole, Wyoming. The meeting is more or less a conference attended and led by some of the biggest central bankers in the world. In the past, some of the speeches made at this meeting have been clear signs with regard to the future direction of monetary policies around the globe. This time around, it is clear that most investors will be tuning in in hopes of hearing some further clarification about if and when the US Fed will be raising interest rates.

    US Federal Reserve chairperson Janet Yellen and ECB president Mario Draghi are expected to speak, but they are just two of many people scheduled speak at the meeting. At this point, it is impossible to say for sure what kind of impact, if any, this meeting will have on the spot values of precious metals.

    Wrap-Up

    Today’s market atmosphere, quiet and subdued as it was, is what you can expect throughout a majority of this week. There is not all that much economic data on the table, and with investors continuing to mostly overlook the violence on the Gaza Strip and Ukraine, it seems as though things will remain quiet. Precious metals bears are fighting for control with bulls, but more recently it seems as though the gold bulls are losing that battle.

    Disclaimer: All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. and should not be construed as financial advice.

    Top Stories

    Read More

    Subscribe to JM Bullion’s newsletter to receive timely market updates, sales and giveaways.