Mid-Day Gold & Silver Market Report – 5/15/2013


Gold continued to descend Wednesday as the price dove below $1,400 leaving the metal poised for a fifth straight session of losses. A strong U.S. dollar and the ongoing exodus from exchange traded funds (ETFs) weighed heavily on the Gold price, which is currently down about 15 percent on the year. An appetite for higher risk has drawn many investors out of traditional safe havens like Gold back in to the stock market. Analysts at Commerzbank AG reported that another 6 tons of electronically traded Gold holdings were off-loaded yesterday, which brings the current tally to 412 tons since the beginning of 2013. Though the recent price drop has caused an onslaught of panic selling in electronic markets, physical demand for Gold coins and bars remains high as investors seek to take advantage of low prices.

Equities markets continued their advance today despite reports of U.S. industrial contraction in April. “It's disconcerting that the data was so much lower than what we were looking for, but there's no reason for investors to sell,” Michael Binger, senior portfolio manager at Gradient Investments, said. “The main things driving the market - the Fed, earnings, consumer confidence - are holding up, and people put money in the market on any down day. I still see a lot of value.” Though the Dow Jones Industrial Average and S&P 500 continue to post record numbers, many analysts wonder if the rally can be sustained as traditionally low summer trading volume and speculation over curbing the scale of monetary easing could halt the progress of the blossoming market. 

At 1:17 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,397.60, Down $29.90.
  • Silver, $22.78, Down $0.71.
  • Platinum, $1,493.00, Down $10.40.
  • Palladium, $730.80, Up $1.60.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! If you have any questions about investing in Precious Metals or simply would prefer to place your order by telephone, we are here to help.

« Return to Commentaries


APMEX’s ‘News and Commentaries’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.

US Dollar Prices are in USD

Precious Metal Prices
4/17/2014 5:15:48 PM EST

Metal Bid Ask Change
Gold $1,294.60 $1,296.60 ($8.90)
Silver $19.60 $19.70 $0.02
Platinum $1,405.70 $1,415.70 ($22.10)
Palladium $792.10 $797.10 ($6.20)
4/17/2014 5:15:48 PM EST

Click here for Historical Charts*All Charts are in USD

Sell To Us

Selling your bullion or collectible coins is very easy and safe with APMEX! We are one of the largest gold & silver dealers in the country. Read More

APMEX Reviews

Just a short note, I've been dealing with you for several years your products are excellent customer service top shelf, packaging delivery top notch, and a easy fun website to look at.

Kevin | January, 2014 View All

As seen on...