Morning Gold & Silver Market Report – 6/10/2013


The U.S. stock market gained in overnight trading on positive news from Japanese markets as stocks there rallied. Investors seem to be overlooking weaker data coming out of China, which indicates the world’s second largest economy is stuck in stagnant growth, and instead are looking ahead to a speech from St. Louis Federal Reserve President James Bullard. Bullard’s speech is the last scheduled before the Fed’s interest-rate decision in June. Due the rest of this week is a smattering of data including retail sales where investors will be looking for the effects of sequestration and higher taxes.

The Gold price eased again on Monday, but do to Silver’s continued underperformance, the two metals hit their highest Gold/Silver ratio since August 2010. A stronger dollar is one of the key factors for Gold’s continued decline. The Federal Reserve’s loose monetary policy has been a key driver for Gold’s previous success, and with anticipation of that policy coming to an end soon, the Gold price has been struggling for support. Interestingly, outflows from the world’s largest ETF New York’s SPDR Gold Trust slowed. The fund reported an outflow of only 6 tons last week as compared to an average of 24 tons a week over the previous two months.

At 9:10 a.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,382.80, Down $2.20.
  • Silver, $21.84, Down $0.01.
  • Platinum, $1,502.10, Down $2.00.
  • Palladium, $761.20, Up $0.00.
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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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