Featured

*1% over dealer cost is an approximation based on expected spot-prices relative cost of coins. It is not a guarantee on any specific product at any specific time and only applies to the common bullion products listed at www.meritgold.com.

Latest Market Updates

Gold prices recovered above $1,300 per ounce in late-afternoon trading Tuesday, but still posted a loss at the close of today’s U.S. session. The metal came under pressure despite U.S. inflation data beating forecasts, while sentiments that recent expectations for U.S. monetary policy to be reigned in sooner than expected further weighed on prices.
 
The Labor Department reported earlier that the U.S. consumer price index rose 0.2% in March, exceeding expectations for a 0.1% gain, after a 0.1% uptick the previous month. The on-year rate rose 1.5% in March, beating estimates for a 1.4% gain, and while still below the Fed's 2% target, the numbers fueled a selloff in the gold market.
 
The core consumer price index, which excludes food and energy items, rose 0.2% in March.
 
A separate report showed that the Empire State manufacturing index fell to 1.3 for April from 5.6 in March, defying expectations for a rise to 8.2.
 
Exacerbating today’s selloff were sentiments that traders overreacted to the dovish minutes from the Fed's March policy meeting released last week. In the minutes, the Fed eliminated the 6.5% trigger at which it was previously set to hike interest rates.
 
Investors viewed Tuesday's data as enough to justify the Federal Reserve continuing to dismantle its monthly asset-purchasing program.
 
Weak physical demand in China also weighed on gold prices Tuesday, with Shanghai prices trading at a discount of about $1 an ounce to spot prices. Chinese firms may have locked up as much as 1,000 tons of gold in financing deals, according to a report from the World Gold Council, indicating that a majority of imports had been used to raise funds due to China's tight credit conditions rather than to meet consumer demand.
 
Tuesday’s pullback for gold came even as Ukrainian armed forces launched a 'special operation' against militiamen in the country's Russian-speaking east. Traders said the premium of geopolitical tensions had already been priced in the gold market.
 
“It is a case of once bitten twice shy,” said Chintan Karnani, chief market analyst at Insignia Consultants to Marketwatch. Traders had gone long Monday on Ukraine but gold fell Tuesday, he said. “Now they are extra cautious going long. The rise (if any) will be slow and steady unlike the fall which was quite fast.”
 
Adam Koos, president and portfolio manager of Libertas Wealth Management Group, said he believes the “supply/demand equation is the primary driver with the ancillary issue being the dollar and “investors are ‘bored’ with the Ukraine.”
 
“It’ll probably take more ruthless news to see a significant reaction that would result in a flee to gold for safety,” he said.
 
Still, “the fact that gold has found itself bouncing around in the same old range is more positive than negative,” he said. “The more time that passes, the more the metal consolidates, the stronger the commodity gets (on a relative basis), and the higher the probability of near-term growth.”
read more

View Market Data

Read the latest market viewpoint commentary from Merit's very own Executive Vice President, Mike Getlin.

View Market Data

The VAULT

This week's edition of the Vault features our recent interview with legendary investor Jim Rogers. Jim joins Brian to discuss his views on financial markets, the Fed, increasing chances for a U.S. recession in the near-term, and what he sees ahead for gold ...

watch more

Gold Standard with Brian Baker

Brian covers an exciting report from the World Gold Council that predicts gold demand in China will rise 25 percent in the next four years as an increasing population gets wealthier.

watch more

About Merit

27 Years in Business

For a quarter of century, Merit is a trusted financial partner for thousands of
investors of gold and precious metals

5/5 RATING AT TRUSTLINK

Widely recognized as an honest,
responsible and highly ethical institution,
Merit has a perfect rating
with Trustlink

5000+ happy customers

Each year more investors, financial
planners and collectors become part of our
community of highly satisfied customers

more about merit

Community

Nearly 50,000 men and women in the armed forces have been injured in the wars of Iraq and Afghanistan. To support those who have risked their lives for their country, Merit has developed the Wounded Warrior Project. This program provides unique, direct assi...

read more

Read what our customers
are saying

Peter Epstein - Chairman & Founder, Merit

Peter Epstein - Chairman & Founder, Merit

read testimonials