Closing Gold & Silver Market Report – 5/21/2013


Gold was down two percent to start the day, but recovered a majority of its losses to end only 0.5 percent down. "The dollar is strong, the U.S. stock markets are holding up, and bond yields are climbing, so the (Gold) market is trading in defensive mode ahead of the Federal Reserve's testimony," Saxo Bank senior manager Ole Hansen said. With United States Federal Reserve Chairman Ben Bernanke speaking in front of Congress tomorrow, many investors are in a holding pattern.  

Two senior members of the U.S. Federal Reserve spoke at different events today and both hinted that the easing program is not ready to end. "I can't envision a good case to be made for tapering unless the inflation situation turns around and we are more confident than we are today that inflation is going to move back toward target," St. Louis Fed chief James Bullard said. While there is no set timeframe for the end of easing in the U.S., the Fed has made it clear that it will continue until the job market has “improved substantially,” which it has failed to do thus far. 

At 5:07 pm (EDT), the APMEX precious metals spot prices were:

  • Gold, $1376.70, Down $10.40.
  • Silver, $22.49, Down $0.21.
  • Platinum, $1464.60, Down $21.50.
  • Palladium, $727.00, Down $4.90.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 7 p.m. (CDT)! Or call us Fridays until 5 p.m. (CDT)! 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.

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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

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