Closing Gold & Silver Market Report – 6/19/2013


Precious Metals prices began to fall today after U.S. Federal Reserve Chairman Ben Bernanke announced the probability of reducing asset purchasing by the end of 2013 and completely ending it in 2014. Bernanke made it clear, however, that how the economy performs will determine how the Fed will proceed, stating, “If you draw the conclusion that I've just said that our purchases will end in the middle of next year, you've drawn the wrong conclusion, because our purchases are tied to what happens in the economy.” The market is still in limbo as investors are aware of the Fed’s fiscal plans, but they’re not certain of the exact timeframe. “We pretty much have a Fed statement and summary of economic projections that leave us believing what we believed yesterday, which is the Fed is going to taper at some point, maybe at the end of this year, maybe in 2014," Lazard Capital Markets’ managing director Art Hogan said.

As quantitative easing has become the norm for the U.S., investors have concluded that the dollar will continue to devalue as more is printed and pushed into the economy. When the dollar becomes less valuable, more is required to purchase an ounce of Gold. Former congressman and presidential candidate Ron Paul has a confident forecast for Gold, saying, “as long as we have excessive spending, and excessive computerized money, we are going to see Gold go up." He added, "Six thousand years of history shows that Gold always retains value and paper always self-destructs."

At 5 p.m. (EDT), the APMEX Precious Metals spot prices were:

  • Gold, $1,352.50, Down $16.40.
  • Silver, $21.45, Down $0.35.
  • Platinum, $1,417.50, Down $24.60.
  • Palladium, $694.40, Down $13.90.

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
4/16/2014 9:32:47 PM EST

Metal Bid Ask Change
Gold $1,302.20 $1,304.20 ($1.30)
Silver $19.55 $19.65 ($0.04)
Platinum $1,426.70 $1,436.70 ($1.10)
Palladium $798.50 $803.50 $0.20
4/16/2014 9:32:47 PM EST

Click here for Historical Charts*All Charts are in USD

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