Morning Gold & Silver Market Report – 8/22/2013


The release of the weekly jobless claims report had little effect on Precious Metals prices, as the Gold price remained mostly flat and the Silver price remained positive.  New claims rose by 13,000 last week, though the level remains near a low since the recession.  Continuing claims rose as well, by 29,000.  Both levels are higher than economists predicted, but the U.S. Federal Reserve’s potential tapering of quantitative easing continues to take the spotlight.

The Gold price’s reaction to yesterday’s Fed minutes has some analysts surprised.  Karim Cherif of Credit Suisse said, “You would expect that after the minutes, the Gold price would be slightly lower. But this is not what is happening at the moment.  What is interesting in Gold prices right now is actually what is happening on the physical side. There is still substantial buying in the physical market.” 

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

  • Gold, $1,377.10, Up $5.00.
  • Silver, $23.30, Up $0.26.
  • Platinum, $1,527.30, Up $7.20.
  • Palladium, $752.10, Up $3.70.

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
4/25/2014 2:21:06 AM EST

Metal Bid Ask Change
Gold $1,292.00 $1,294.00 $1.30
Silver $19.52 $19.62 ($0.13)
Platinum $1,404.40 $1,414.40 $4.80
Palladium $799.00 $804.00 $0.80
4/25/2014 2:21:06 AM EST

Click here for Historical Charts*All Charts are in USD

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