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January 27th Early Week Silver Market Update

Gold and silver spot values are adding most of the value that was lost on Monday thanks to some volatility on the part of US equities. Despite the fact that this week was pegged as being quieter than the previous three, things are shaping up to be a bit different than expectations. Already, we have seen stocks gain, subsequently lose that value, and have been dealt some important corporate earnings reports.

As we look ahead to the middle day of the week and beyond, investors will continue having to mull over and digest fourth-quarter (2014) earnings reports from the United States. In addition to this, the Federal Open Market Committee kicks off their meeting tomorrow and will wrap it up later in the week. This stands the chance of affecting the wider global marketplace, but with no big announcements expected, this will likely not be the case.

Stocks Sell Off On Poor Corporate Earnings

After making nice gains to close out last week and open this one, stocks in the US are conceding value once more. This time, stock markets are reeling after a number of large corporations reported fourth quarter earnings from 2014 that were far worse than what was expected. Companies like Microsoft, Caterpillar, and Proctor & Gamble all reported weaker than expected profits for the last quarter of 2014. The reasons for these poor corporate earnings reports are many, but the advancing US Dollar is a major culprit. For P&G, the stronger US Dollar resulted in weaker overseas earnings.

Thanks to even more volatility being injected into the global equity market, investors are flocking to safe-haven gold and silver more readily than we have seen in the past 6 or more months. Now, spot values are sitting right around 6-month highs and are, quite honestly, looking like they will move upward even further. Of course, this remains to be seen as spot values can track back downward just as quickly as they moved forward.

With the FOMC meeting and more corporate earnings reports due out, I am sure we are in for a few surprises before this week is all said and done.

Posted in Market Updates

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