Mid-Day Gold & Silver Market Report – 8/14/2013


Gold is up slightly today despite the ever-present concern over the possibility of the U.S. Federal Reserve reducing their asset purchases in the very near future.  Many analysts and investors view the reduction as bearish for Precious Metals since the inflationary fears so integral to boosting metals prices would be reduced along with monthly injections of “new money” into the economy.  Though many experts have pointed to September as the time to expect an announcement about the initial tapering, others like Atlanta Fed President Dennis Lockhart believe recent economic data to be far too mixed for the Fed to decide on any clear-cut plan of action by next month. 

U.S. stocks are down today as many investors remain sidelined awaiting clarity from the Federal Reserve regarding quantitative easing.  "Investors are still trying to assess the Fed and what it will do next, leaving us to bounce around on a daily basis but essentially go nowhere," Dearborn Partners managing director Paul Nolte said.  While domestic equities struggle to gain direction on Fed concerns and slow seasonal trading volume, European stocks realized gains for the fifth straight day as data revealed the eurozone emerging from recession.  

At 1 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,334.70, Up $12.20.
  • Silver, $21.83, Up $0.41.
  • Platinum, $1,505.30, Up $4.60.
  • Palladium, $741.80, Up $1.40.

APMEX’s Account Managers now have extended hours Mondays through Thursdays and are here to serve you until 8 p.m. (EDT)! Or call us Fridays until 6 p.m. (EDT)! 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
4/24/2014 2:57:05 PM EST

Metal Bid Ask Change
Gold $1,291.80 $1,293.80 $7.20
Silver $19.64 $19.74 $0.25
Platinum $1,403.00 $1,413.00 $9.10
Palladium $796.60 $801.60 $14.70
4/24/2014 2:57:05 PM EST

Click here for Historical Charts*All Charts are in USD

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