Latest Market Updates
As of 11:29 a.m. EST, gold was up more than $20 per ounce or 1.75%.
Silver prices posted strong gains this morning as well, climbing nearly $0.50 per ounce or 2.42%. Silver outperformed gold in the previous session, rising 2.3 percent by the close of Monday trading to $20.31 per ounce.
Investors ignored speculation the U.S. central bank might start tapering its bond-buying program at its upcoming policy meeting. Federal Reserve officials gave fresh warnings about a potential stimulus reduction on Monday.
St. Louis Fed Bank President James Bullard said tapering will become increasingly likely as long as the labor market continues to improve, while Dallas President Richard Fisher said that rising long-term U.S. Treasury yields suggest that investors are expecting a reduction in stimulus.
"The pressure is on the Fed now, with the debate over the best way out without scaring the market off only likely to intensify for FOMC policymakers from here,” analysts from VTB said in a note to clients.
A poll conducted by Reuters on Monday showed the Fed was still expected to commence tapering in March, but some economists say a December taper is possible.
The central bank is scheduled to meet December 17-18 to review economic data and reassess monetary policy.
View Market Data
Read the latest market viewpoint commentary from Merit's very own Executive Vice President, Mike Getlin.View Market Data
Sign up for insightful market viewpoints from Mike Getlin, Executive Vice President.
Market Updates Archive
Merit Gold News Network
Gold prices rallied Monday after posting a loss for the last two trading sessions. Bargain hunting, a weaker dollar and short-covering pushed spot prices higher. Speculation over the timing of a QE taper continues to frustrate markets.watch more
Gold Standard with Brian Baker
Gold prices posted strong gains on Monday. Brian takes a look at why gold prices might be poised for a year-end rally.watch more
For a quarter of century, Merit is a trusted financial partner for thousands of
investors of gold and precious metals
Widely recognized as an honest,
responsible and highly ethical institution,
Merit has a perfect rating
Each year more investors, financial
planners and collectors become part of our
community of highly satisfied customers
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