Our Daily
Market Reports

Morning Gold & Silver Market Report – 6/6/2013

ECB HOLDS RATES; MARKETS AWAIT U.S. JOB NUMBERS

The European Central Bank held its benchmark interest rates at record lows today spurring a rebound from a six-week low for the European markets. U.S. indexes are also up on the news. Investment manager Chris Godding at Signia Wealth Ltd. in London said, “You need the global economy to pick up, you need confidence to pick up. There’s a lot of excess capacity in the European economy and there’s a lot of potential. The ECB just has to do its job in making sure the liquidity is there for that potential to be realized.” The move, or lack thereof, by the ECB to keep rates low indicates a desire to help that potential be realized.

The Gold price is hovering around the all-important $1,400 mark as investors wait for ECB President Mario Draghi to talk about the decision to keep rates low today. Investors are also waiting to hear anything from Draghi about negative interest rates as these would be favorable for the Gold price and other non-interest bearing assets. The big news story for Gold will be tomorrow’s U.S. non-farm payroll numbers. Danske Bank analyst Christin Tuxen said, “And of course people are looking at tomorrow's U.S. non-farm payrolls, which will be instrumental to judge whether the Fed tapering is going to come sooner rather than later - whether it is in September or December that this will be announced is the big question for everything that is dollar sensitive at the moment, including Gold.”

At 9:09 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1399.50, Down $1.00.
  • Silver, $22.48, Down $0.11.
  • Platinum, $1516.60, Up $4.50.
  • Palladium, $758.00, Up $1.60.

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.

« Return to Commentaries

World Market Trading Hours

Our spot prices are subject to change during the following hours, excluding holidays:

 
Gold
Silver
Platinum
Palladium
CONMEX &
NYMEX Markets
Monday-Friday
8:20AM-1:30PM
Monday-Friday
8:25AM-1:25PM
Monday-Friday
8:20AM-1:05PM
Monday-Friday
8:30AM-1:00PM
CME Globex
World Markets
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM
Monday-Friday
6:00AM-5:15PM

Disclaimer:
APMEX’s ‘Market Reports’ 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.

Back To Top

Items In Cart


There are no items in the cart.

AURIC