Morning Gold & Silver Market Report – 6/26/2013


While the Precious Metals market reached a three year low overnight, the lackluster U.S. GDP report has the market recouping some of its losses. The first quarter economic growth in the United States was estimated at 2.4 percent; however, the final revised number came in much lower at 1.8 percent. This report could put a damper on talks of ending the Fed’s monetary easing program. While the growth is positive, many economists believe it will take more robust growth to get the Fed to change its easing course.

While the GDP report did slow the falling Gold price, the fact remains that the yellow metal is at a three year low. The positive economic conditions at the present time are not conducive to higher Gold prices. “We bought Gold for two reasons - because we were worried about the inflationary impact of policy and because we thought the financial system was going to fall apart. Although it may be completely the wrong judgment, the market has decided that none of those at the moment is a concern,” Sean Corrigan, chief investment strategist at Diapason Commodities Management, said.

At 9:00 am (EDT), the APMEX precious metals spot prices were:

  • Gold, $1245.50, Down $31.50.
  • Silver, $18.98, Down $0.67.
  • Platinum, $1329.50, Down $23.00.
  • Palladium, $652.00, Down $16.90.

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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