Mid-Day Gold & Silver Market Report – 8/27/2013


Today, Gold officially hit a 15-week high on growing concern surrounding the possibility of the West using military force against Syria.  During times of uncertainty, investors generally flock to Gold as a safe haven asset.  “The major reason for Gold's gains is the safe-haven buying on the back of geopolitical tension in Syria  and soaring crude oil prices, which are another source of support for Gold,” Quantitative Commodity Research owner Peter Fertig said.  Once the U.S. Federal Reserve makes a decision on tapering fiscal policy, the Precious Metals market could see another boost if the cut is modest or if it doesn’t happen this year.

U.S. consumer confidence for August moved closer to a 5 ½ year high with a forecast reflecting optimistic views on the job market and wages.  “Consumer confidence and sentiment indices are in a solid uptrend,” Joshua Shapiro, chief U.S. economist at MFR Inc., wrote in a note to clients.  The unemployment rate is still extremely high, as July saw the lowest amount of jobs added in the past four months.


At 3:34 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,419.80, Up $24.70.
  • Silver, $24.63, Up $0.56.
  • Platinum, $1,530.00, Down $15.50.
  • Palladium, $747.00, Down $0.60.

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
4/23/2014 12:42:50 PM EST

Metal Bid Ask Change
Gold $1,283.20 $1,285.20 $2.10
Silver $19.37 $19.47 $0.06
Platinum $1,393.80 $1,403.80 $3.50
Palladium $781.60 $786.60 $2.00
4/23/2014 12:42:50 PM EST

Click here for Historical Charts*All Charts are in USD

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