CC Holdings Group Market Update (July 21, 2013)

Exchange Rates Review and Outlook, July 21, 2013

The past week was generally good to precious metals, with gold up 0.3% for the week, platinum up 0.7%, and palladium up 2.9%. The lone precious metal to see a decline for the week was silver, down about 0.9%.

In looking at the performance of precious metals on a year to date basis, gold is down about 23%, silver is down about 37%, platinum is down about 10%, and palladium is up about 4%.

In contrast to a generally down year so far, the month of July has seen a recovery in the prices of precious metals. Through the first three weeks of July, gold is up 8%, silver is up 3%, platinum is up 7%, and palladium is up 15%.

In looking ahead, a number of data points will move the precious metals market in the coming week. Among the figures that will move the precious metals markets, some of the major data points include:

  • Corporate earnings: the week ahead has a deluge of corporate earnings, and stronger than expected earnings could put concern back on Federal Reserve tapering;
  • U.S. housing conditions;
  • European and U.S. consumer confidence: and
  • European and U.S. manufacturing conditions.

The outlook for the precious metals in the coming week has a general positive bias, continuing the July trend. Overall, gold is anticipated to be in the $1,241 to $1,345 range; silver is anticipated to be in the range of $18.9 to $20.4; platinum is expected to trade in the range of $1,371 to $1,477; and palladium is anticipated to trade in the range of $715 to $770.

Weekly Change in Metals Prices

Monthly Change in Metals Prices

Headquartered in Switzerland, the CC Holdings Group provides clients with financial services including physical bullion, deliverable foreign exchange, custody and payment services.

This information is intended to assist investors. The information does not constitute investment advice or an offer to invest or to provide investment services and is subject to correction, completion and amendment without notice.