Morning Gold & Silver Market Report – 8/6/2013


Economic data from the U.S. and Europe pulled the Gold price down in overnight trading.  Sharps Pixley CEO Ross Norman said, “We fell through the psychological support level of $1,300 last night, and it does feel as the prevailing dollar strength is curtailing Gold momentum.  [However,] it is hard to read too much into moves during the summer months as the market can fluctuate widely on very small trades.”  Automatic electronic sale orders were activated when the Gold price fell below $1,300, which furthered the impact of the losses.

Data released this morning by the Commerce Department showed that the U.S. trade deficit fell to its lowest level in nearly four years.  The combination of lower imports and higher exports caused the gap to shrink to $34.2 billion in June, from $44.1 billion in May.  The U.S. imported a total of $225.4 billion in June, compared to exporting $191.2 billion.

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

  • Gold, $1,289.30, Down $15.10.
  • Silver, $19.68, Down $0.13.
  • Platinum, $1,434.90, Down $14.20.
  • Palladium, $728.90, Down $7.90.

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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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